Guideline Value for Kamatchi Nagar

Kamatchi Nagar guideline value

The current guideline value of Kamatchi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village under the Pammal SRO, classified as Residential Class II 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 the 2017 revision, the value was Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision shows a further increase to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the current guideline value for Kamatchi Nagar.

• Kamatchi Amman Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Kakkanji Street: Rs 1,650 per sq.ft (2024)
• Karumariamman Nagar: Rs 2,200 per sq.ft (2024)
• Kathiravan Nagar: Rs 2,750 per sq.ft (2024)
• Kaththayiamman Magar: Rs 1,980 per sq.ft (2024)
• Kerugambakkam Main Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Kolapakkam. It serves as a benchmark for determining the stamp duty and registration fees that are payable during the registration process.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kamatchi Nagar?

The current guideline value of Kamatchi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, which is a total increase of 64% over the seven years.

What are the guideline values of other streets in Kolapakkam?

Other streets in Kolapakkam have varying guideline values, with rates ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft.

What fees are associated with property registration in Kamatchi Nagar?

When registering property in Kamatchi Nagar, the fees include a stamp duty of 7% and a registration fee of 2% 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.