Guideline Value for Kamdar Nagar 1st Main Road

Kamdar Nagar 1st Main Road guideline value

The current guideline value of Kamdar Nagar 1st Main Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Kamdar Nagar 1st Main Road has changed

The guideline value for Kamdar Nagar 1st Main Road has undergone several revisions over the years. The 2007 revision set the value at Rs 3,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012, marking a 167% rise. However, in 2017, the value dropped to Rs 5,360 per sq.ft, a decrease of 33%. The value then rose again to Rs 8,000 per sq.ft in 2023, followed by a further increase to Rs 8,800 per sq.ft in 2024, reflecting a 10% change.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 193%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

Nungambakkam village has a total of 270 streets under the Chennai Central Joint II SRO, with guideline values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which is the same as the current value for Kamdar Nagar 1st Main Road.

• Kamdar Nagar 1st Street: Rs 8,800 per sq.ft (2024)
• Kamdar Nagar 2nd Street: Rs 8,800 per sq.ft (2024)
• Kamdar Nagar 3rd Street: Rs 8,800 per sq.ft (2024)
• Kammalar Street: Rs 8,800 per sq.ft (2024)
• Kamarajapuram (Slum): Rs 6,000 per sq.ft (2024)
• Kamarajapuram 6th Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kamdar Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees together to Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamdar Nagar 1st Main Road?

The Sub Registrar Office that covers Kamdar Nagar 1st Main Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable fees based on the size and value of the property. This ensures that all transactions are recorded accurately and comply with the regulations set by the state.

Frequently asked questions

What is the current guideline value for Kamdar Nagar 1st Main Road?

The current guideline value for Kamdar Nagar 1st Main Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

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

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers Kamdar Nagar 1st Main Road?

The Chennai Central Joint II Sub Registrar Office covers Kamdar Nagar 1st Main Road, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Kamdar Nagar 1st Main Road?

The land classification for Kamdar Nagar 1st Main Road is Residential Special Type - II.