Guideline Value for Kamatchiamman Nagar,Ponniammanmedu (Ward-23)

Kamatchiamman Nagar,Ponniammanmedu (Ward-23) guideline value

The current guideline value for Kamatchiamman Nagar, Ponniammanmedu (Ward-23) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class III Type - I, governed by the Madhavaram SRO.

How the guideline value of Kamatchiamman Nagar,Ponniammanmedu (Ward-23) has changed

Over the years, the guideline value of Kamatchiamman Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased significantly by 49%. The change from 2023 to 2024 reflects an 8% increase. Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 8% in the guideline value.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Kamatchiamman Nagar is below this median.

• Kamatchi Amman Nagar: Rs 1,300 per sq.ft (2024)
• Kamatchi Nagar ( Ward No.24 ): Rs 2,200 per sq.ft (2024)
• Kamaraj st ( Ward No.25 ): Rs 1,600 per sq.ft (2024)
• Kamaraj St ( Ward No.16 ): Rs 1,600 per sq.ft (2024)
• Kamban Nagar 1st st ( Ward No.8 ): Rs 1,300 per sq.ft (2024)
• Kamban Nagar Cross St ( Ward No.8 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchiamman Nagar,Ponniammanmedu (Ward-23)

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 Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kamatchiamman Nagar,Ponniammanmedu (Ward-23)?

The Sub Registrar Office that covers Kamatchiamman Nagar, Ponniammanmedu (Ward-23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value for Kamatchiamman Nagar?

The current guideline value for Kamatchiamman Nagar, Ponniammanmedu (Ward-23) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

What is the land classification for Kamatchiamman Nagar?

Kamatchiamman Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Where is the Sub Registrar Office located for this area?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers Kamatchiamman Nagar, Ponniammanmedu (Ward-23).