Guideline Value for Kamatchi Nagar

Kamatchi Nagar guideline value

The current guideline value of Kamatchi Nagar is Rs 14,300 per sq.ft, effective from 1 July 2024. This area is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this street is Residential Special Type - IV.

How the guideline value of Kamatchi Nagar has changed

The guideline value for Kamatchi Nagar has undergone several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 13,000 per sq.ft, which increased to Rs 14,300 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for Kamatchi Nagar in the earlier years mentioned. The most recent figure reflects the ongoing adjustments in property values within the area.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, and Kamatchi Nagar's 2024 figure of Rs 14,300 is above this median.

• Kanagasri Nagar: Rs 14,300 per sq.ft (2024)
• Kamarajar Street: Rs 8,700 per sq.ft (2024)
• Kamarajar Salai: Rs 8,700 per sq.ft (2024)
• Kasthuri Estate: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 1st Street: Rs 17,500 per sq.ft (2024)
• Kasthuri Estate 2nd Street: Rs 17,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kamatchi Nagar?

The Sub Registrar Office that covers Kamatchi Nagar is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is an essential factor during property registration in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are paid. This value is crucial for both buyers and sellers to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Kamatchi Nagar?

The current guideline value of Kamatchi Nagar is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kamatchi Nagar was Rs 13,000 per sq.ft in 2023, which increased to Rs 14,300 per sq.ft in 2024, reflecting a +10% change. The register has no figure for this street in the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have varying guideline values. For example, Kanagasri Nagar and Kamatchi Nagar both have a guideline value of Rs 14,300 per sq.ft, while Kamarajar Street and Kamarajar Salai are at Rs 8,700 per sq.ft. In contrast, Kasthuri Estate and its first and second streets are valued at Rs 17,500 per sq.ft.

What are the stamp duty and registration fees for Kamatchi Nagar?

For a property in Kamatchi Nagar valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000, and the registration fee would be Rs 2,86,000, totaling Rs 12,87,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Kamatchi Nagar?

The Chennai Central Joint I Sub Registrar Office covers Kamatchi Nagar. It is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.