Guideline Value for Kamatchi Nagar

Kamatchi Nagar guideline value

The current guideline value of Kamatchi Nagar, located in Mylapore Part 2 village under the Chennai Central Joint I SRO, is Rs 14,300 per sq.ft, effective from 1 July 2024. This area is classified as 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 does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 13,000 per sq.ft, which increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

From the previous revisions, the most recent figures show a clear increase. The 2023 to 2024 change reflects a significant adjustment, highlighting the evolving valuation of properties in this area.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a total of 332 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, placing Kamatchi Nagar's 2024 figure 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 is calculated at 7%, resulting in Rs 10,01,000, while the registration fee at 2% amounts to Rs 2,86,000. Together, the total cost for stamp duty and registration fee is Rs 12,87,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed 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. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor when buying or selling property in Mylapore Part 2, as it determines the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees during the transaction.

When registering a property, it is essential to understand that the guideline value is used to ensure that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the Registration Department.

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 has changed from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Kamatchi Nagar?

Kamatchi Nagar is classified as Residential Special Type - IV, indicating its designation for residential development within the area.

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

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

Where can I find the Sub Registrar Office for Kamatchi Nagar?

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