Guideline Value for Kamatchi amman Nagar

Kamatchi amman Nagar guideline value

The current guideline value of Kamatchi amman Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is located in Srinivasapuram village and falls under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Kamatchi amman Nagar has changed

The guideline value for Kamatchi amman Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 57 per sq.ft, which increased significantly to Rs 416 per sq.ft in 2007. Following this, the value surged to Rs 1,800 per sq.ft in 2012, but then dropped to Rs 1,206 per sq.ft in 2017. The value rose again to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 2,000 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

Between the revisions, notable changes include a 630% increase from 2003 to 2007, a 333% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a 49% increase from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 11%. Overall, from 2003 to 2024, the guideline value has increased by 3409%.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,550 to Rs 7,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. Kamatchi amman Nagar's current guideline value is above this median.

• Kasi Avenue: Rs 2,000 per sq.ft (2024)
• Indira Nagar Extension: Rs 1,550 per sq.ft (2024)
• Indira Nagar: Rs 1,550 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 2,000 per sq.ft (2024)
• Mariyamman Koil Street: Rs 1,550 per sq.ft (2024)
• Marshal Lay out: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchi amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total fees to Rs 1,80,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamatchi amman Nagar?

The Sub Registrar Office covering Kamatchi amman 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 Srinivasapuram

The guideline value is a crucial factor when registering property transactions in Srinivasapuram. It determines the minimum value at which a property can be registered, ensuring that both buyers and sellers are aware of the official valuation set by the government.

When buying or selling property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is legally recognized and that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Kamatchi amman Nagar?

The current guideline value of Kamatchi amman Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 57 per sq.ft in 2003 to Rs 2,000 per sq.ft in 2024, reflecting an overall increase of 3409% over the years.

What is the registration office for Kamatchi amman Nagar?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur total fees of Rs 1,80,000.

What are the guideline values of other streets in Srinivasapuram?

Other streets in Srinivasapuram have varying guideline values, ranging from Rs 1,550 to Rs 7,400 per sq.ft. Kamatchi amman Nagar's value is Rs 2,000 per sq.ft, which is above the median of Rs 1,650 per sq.ft.