Guideline Value for Kamatchi Nagar

Kamatchi Nagar guideline value

The current guideline value of Kamatchi Nagar, located in Mogalivakkam village under the Kunrathur SRO, is Rs 2,860 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Kamatchi Nagar has changed

The guideline value for Kamatchi Nagar has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,600 per sq.ft in 2012, marking a rise of 333%. However, from 2012 to 2017, the value decreased to Rs 1,742 per sq.ft, a drop of 33%. The value then rose sharply to Rs 2,600 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,860 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 377%.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value of Kamatchi Nagar is below this median.

• Kanniappan Nagar: Rs 2,860 per sq.ft (2024)
• KarthikBalaji Nagar: Rs 2,530 per sq.ft (2024)
• Jawaharlal Street: Rs 2,530 per sq.ft (2024)
• K.R.B.Avenue: Rs 2,530 per sq.ft (2024)
• Krishnaveni Nagar: Rs 2,970 per sq.ft (2024)
• Krishnaveni Nagar Extension: Rs 2,970 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 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, making the total charges Rs 2,57,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamatchi Nagar?

The Sub Registrar Office that covers Kamatchi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mogalivakkam

The guideline value is a crucial factor when buying or selling property in Mogalivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately, reflecting the true value of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Kamatchi Nagar?

The current guideline value of Kamatchi Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 377% over the years.

What is the land classification of Kamatchi Nagar?

Kamatchi Nagar is classified as Residential Special Type - II.

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

For a property valued at Rs 28,60,000, the stamp duty would be Rs 2,00,200 and the registration fee would be Rs 57,200, totaling Rs 2,57,400.

Where is the Sub Registrar Office for Kamatchi Nagar located?

The Sub Registrar Office for Kamatchi Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.