Guideline Value for Kamatchipuram

Kamatchipuram guideline value

The current guideline value of Kamatchipuram, located in Thiruverkadu village under the Kunrathur SRO, is Rs 1,540 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Kamatchipuram has changed

The guideline value for Kamatchipuram has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which significantly increased to Rs 1,400 per sq.ft in 2012, marking an increase of 833%. However, between 2012 and 2017, the value decreased to Rs 938 per sq.ft, a decline of 33%. The 2023 revision set the value at Rs 1,400 per sq.ft, which then rose to Rs 1,540 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 927%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median guideline value is Rs 1,540 per sq.ft, which is equal to the current guideline value for Kamatchipuram.

• Kanaga Durga Nagar: Rs 1,540 per sq.ft (2024)
• Kanakadhurga Nagar 1st Cross Street: Rs 1,540 per sq.ft (2024)
• Kanakadhurga Nagar 2nd Cross Street: Rs 1,540 per sq.ft (2024)
• Kanakadhurga Nagar 3rd Cross Street: Rs 1,540 per sq.ft (2024)
• Kanakadhurga Nagar Main Road: Rs 1,540 per sq.ft (2024)
• Kamadhenu Nagar Extension I: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Kamatchipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total cost for these fees to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamatchipuram?

The Sub Registrar Office that covers Kamatchipuram 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 Thiruverkadu

The guideline value is a crucial factor during the registration of property transactions in Thiruverkadu. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kamatchipuram?

The current guideline value of Kamatchipuram is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 150 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, reflecting an overall increase of 927% over the years.

What are the stamp duty and registration fees for property in Kamatchipuram?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,38,600.

Which Sub Registrar Office covers Kamatchipuram?

The Kunrathur Sub Registrar Office covers Kamatchipuram, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Kamatchipuram?

Kamatchipuram falls under the Residential Class I Type - I land classification.