Guideline Value for Kamatchi Nagar

Kamatchi Nagar guideline value

The current guideline value of Kamatchi Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Noombal village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kamatchi Nagar has changed

The guideline value for Kamatchi Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 132 per sq.ft, which increased to Rs 1,072 per sq.ft in 2017, marking a substantial rise of 712%. By the 2023 revision, it further increased to Rs 1,600 per sq.ft, a 49% increase from the previous figure. The most recent revision in 2024 has set the guideline value at Rs 1,760 per sq.ft, reflecting a 10% increase from 2023. It is important to note that the register has no figures for the years 2002, 2007, and 2012 for this street.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 1233%. This significant change underscores the evolving landscape of property values in Kamatchi Nagar.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft as per the 2024 revision. The median guideline value for the village is Rs 2,090 per sq.ft, placing Kamatchi Nagar's 2024 figure below this median.

• Kannabiran Street: Rs 1,760 per sq.ft (2024)
• Kannabiran Street Cross Road: Rs 1,760 per sq.ft (2024)
• Kaveri Nagar: Rs 1,100 per sq.ft (2024)
• Kendiraya Vihar: Rs 4,290 per sq.ft (2024)
• Jay Nagar: Rs 1,760 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 1,760 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 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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 Noombal

The guideline value serves as a benchmark for property transactions in Noombal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that all parties are aware of the financial obligations involved in the property transfer process.

Additionally, the guideline value is essential for legal documentation and property registration. It provides a standardized value that helps in assessing the worth of properties in the area, making it an important factor in real estate transactions.

Frequently asked questions

What is the current guideline value of Kamatchi Nagar?

The current guideline value of Kamatchi Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 132 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, marking a total increase of 1233% over the years.

What is the median guideline value in Noombal?

The median guideline value in Noombal is Rs 2,090 per sq.ft, which is higher than the current guideline value of Kamatchi Nagar.

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

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200, and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles registrations for Kamatchi Nagar?

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