Guideline Value for Kamatchipuram 2nd Street

Kamatchipuram 2nd Street guideline value

The current guideline value of Kamatchipuram 2nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kamatchipuram 2nd Street has changed

The guideline value for Kamatchipuram 2nd Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 2,500 per sq.ft. This figure remained unchanged until the 2012 revision, which also recorded Rs 6,000 per sq.ft. The next revision in 2023 maintained the same value of Rs 6,000 per sq.ft, but in 2024, it increased to Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

From 2007 to 2012, there was a significant increase of 140%, and from 2012 to 2024, the overall increase from the 2007 figure to the current value is 164%. The register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value among these streets is Rs 4,900 per sq.ft, placing Kamatchipuram 2nd Street's 2024 figure above that median.

• Kamatchipuram 1st Street: Rs 6,600 per sq.ft (2024)
• Kambar Street Block 85 (JPT): Rs 4,900 per sq.ft (2024)
• Kambar Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Kambar Street (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Kamaraj Street (Ethiraj Nagar): Rs 5,500 per sq.ft (2024)
• Kanagasabai 1st Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchipuram 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, resulting in a total of Rs 5,94,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamatchipuram 2nd Street?

The Kamatchipuram 2nd Street falls under the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an important factor when registering a property in Kodambakkam. It serves as a benchmark for determining the registration fees and stamp duty applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in calculating the applicable duties and fees, which are necessary for the legal transfer of ownership. It is essential for both parties to be aware of the current guideline value to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of Kamatchipuram 2nd Street?

The current guideline value of Kamatchipuram 2nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,500 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 164%.

What is the land classification for Kamatchipuram 2nd Street?

Kamatchipuram 2nd Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Kamatchipuram 2nd Street?

The Ashok Nagar Sub Registrar Office covers Kamatchipuram 2nd Street and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Kamatchipuram 2nd Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000.