Guideline Value for Kamatchi Nagar

Kamatchi Nagar guideline value

The current guideline value of Kamatchi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kamatchi Nagar has changed

The guideline value of Kamatchi Nagar has seen significant changes over the years. In 2002, the value was Rs 142 per sq.ft, which increased to Rs 160 per sq.ft in 2003. This represents a rise of 13%. The value then experienced a substantial jump to Rs 3,000 per sq.ft in 2012, marking an increase of 1,775%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting an increase of 64% from the 2017 figure.

It is important to note that there are no figures available for the years 2007 and 2023 for this street in the register.

Guideline values in Velachery

In Velachery village, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Kamatchi Nagar's 2024 figure below that median.

• Kamatchi Amman Street / Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Kamatchi Amman Street: Rs 3,850 per sq.ft (2024)
• Kamatchi Nagar, Sri Nagar Colony: Rs 3,850 per sq.ft (2024)
• Kambar Street: Rs 4,950 per sq.ft (2024)
• Kambar Street, Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Kambar Street (Dhandeeswaram Extn): Rs 4,950 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the 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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value is referenced to ascertain the minimum value for which the property can be registered. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kamatchi Nagar?

The current guideline value of Kamatchi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 142 per sq.ft to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 2,224%.

What are the other guideline values in Velachery?

Other streets in Velachery have varying guideline values, ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft.

What fees are associated with property transactions in Kamatchi Nagar?

When purchasing property in Kamatchi Nagar, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Velacheri Sub Registrar Office covers Kamatchi Nagar and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.