Guideline Value for Kamatchi Nagar

Kamatchi Nagar guideline value

The current guideline value of Kamatchi Nagar, located in Madambakkam village under the Selaiyur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kamatchi Nagar has changed

The guideline value for Kamatchi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft. The most recent revision in 2024 increased this to Rs 1,300 per sq.ft, marking an 8% increase from the previous figure.

It is important to note that the register has no figures for Kamatchi Nagar for the years 2002, 2003, 2007, 2017, and 2023. Therefore, the only revisions available are from 2012 and 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that Kamatchi Nagar's current figure is below the median.

• Kamatchi Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar Cross Street: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 1,900 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamatchi Nagar?

The Sub Registrar Office covering Kamatchi Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that the government receives the appropriate revenue from property transactions.

Additionally, the guideline value helps to standardize property valuations across different areas, providing a consistent framework for buyers and sellers. It is advisable to be aware of the guideline value before engaging in any real estate transactions in the region.

Frequently asked questions

What is the current guideline value of Kamatchi Nagar?

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

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification for Kamatchi Nagar?

Kamatchi Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.