Guideline Value for Kamatchiamman Street (Gandhi Nagar)

Kamatchiamman Street (Gandhi Nagar) guideline value

The current guideline value of Kamatchiamman Street (Gandhi Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kamatchiamman Street (Gandhi Nagar) has changed

The guideline value for Kamatchiamman Street has undergone several revisions over the years. The earliest recorded revision was in 2012, when the guideline value was Rs 2,000 per sq.ft. In 2017, this value decreased to Rs 1,340 per sq.ft, marking a decline of 33%. However, in the latest revision in 2024, the guideline value increased to Rs 2,200 per sq.ft, reflecting a significant rise of 64% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%. It is important to note that the register does not have figures for Kamatchiamman Street for the years 2002, 2003, 2007, and 2023.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Kamatchiamman Street's 2024 figure below that median.

• Kamatchi 4th Street (Kurinji Street): Rs 2,200 per sq.ft (2024)
• Kamatchi 3rd Street (Kurinji Street): Rs 2,200 per sq.ft (2024)
• Kamatchi 2nd Street (Kurinji Street): Rs 2,200 per sq.ft (2024)
• Kamatchi 1st Street (Kurinji Street): Rs 2,200 per sq.ft (2024)
• Kamatchi Street (Teacher's Colony): Rs 2,200 per sq.ft (2024)
• Kamarasan 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchiamman Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, resulting in a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamatchiamman Street (Gandhi Nagar)?

The Sub Registrar Office that covers Kamatchiamman Street (Gandhi Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations 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 necessary fees. This ensures that the transaction is accurately recorded and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Kamatchiamman Street (Gandhi Nagar)?

The current guideline value of Kamatchiamman Street (Gandhi Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the land classification for Kamatchiamman Street?

Kamatchiamman Street (Gandhi Nagar) is classified as Residential Class II Type - I.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Kamatchiamman Street?

The Madhavaram Sub Registrar Office is responsible for handling registrations for Kamatchiamman Street (Gandhi Nagar). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.