Guideline Value for Kamban Nagar (Ward-08)

Kamban Nagar (Ward-08) guideline value

The current guideline value for Kamban Nagar (Ward-08) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kamban Nagar (Ward-08) has changed

Over the years, the guideline value for Kamban Nagar (Ward-08) has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased 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 to Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, the guideline value increased by 49% from 2017 to 2023, and from 2023 to 2024, it rose by 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

The 2024 guideline values for streets in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Kamban Nagar (Ward-08) is below this median.

• Kamban Nagar V.P. Chittan St (Ward-08): Rs 1,300 per sq.ft (2024)
• Kamban Nagar ( Ward No.29 ): Rs 1,300 per sq.ft (2024)
• Kamban Nagar Thiruvalluvar St (Ward-08): Rs 1,300 per sq.ft (2024)
• Kamban Nager Lakshmi St (Ward-08): Rs 1,300 per sq.ft (2024)
• Kamban Nagar Thiruvalluvar Street: Rs 1,300 per sq.ft (2024)
• Kamban Nagar Tamarai St (Ward-08): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamban Nagar (Ward-08)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamban Nagar (Ward-08)?

The Sub Registrar Office that covers Kamban Nagar (Ward-08) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. This value is essential for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value for Kamban Nagar (Ward-08)?

The current guideline value for Kamban Nagar (Ward-08) 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Kamban Nagar (Ward-08)?

Kamban Nagar (Ward-08) is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Kamban Nagar (Ward-08)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.