Guideline Value for Kamdar Nagar 2nd Street

Kamdar Nagar 2nd Street guideline value

The current guideline value of Kamdar Nagar 2nd Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street 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 2nd Street has changed

Looking at the historical revisions, the guideline value for Kamdar Nagar 2nd Street has seen significant changes over the years. In 2007, the value was Rs 3,200 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012, a rise of 150%. However, it then decreased to Rs 5,360 per sq.ft in 2017, reflecting a drop of 33%. The value saw a substantial increase to Rs 8,000 per sq.ft in 2023, and then further rose to Rs 8,800 per sq.ft in 2024, marking a 10% increase.

From 2017 to 2023, the increase was 49%. Overall, from 2007 to 2024, the guideline value has risen by 175%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam village, there are 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 is Rs 8,800 per sq.ft, which is equal to the current value of Kamdar Nagar 2nd Street.

• kamdar Nagar 1st Street: Rs 8,800 per sq.ft (2024)
• Kamdar Nagar 3rd Street: Rs 8,800 per sq.ft (2024)
• Kamdar Nagar 1st Main Road: 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 2nd Street

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 to Rs 7,92,000. It is important to note that the 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 Kamdar Nagar 2nd Street?

The Sub Registrar Office that covers Kamdar Nagar 2nd Street 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 when buying or selling property in Nungambakkam. It serves as the basis for calculating the stamp duty and registration fees that are payable at the time of registration. Buyers should be aware that the guideline value may differ from the sale price, and the higher amount will be used for calculating the applicable duties.

When registering a property, it is essential to ensure that the guideline value is accurately reflected in the documentation. This helps in avoiding any legal complications and ensures compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Kamdar Nagar 2nd Street?

The current guideline value of Kamdar Nagar 2nd Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 3,200 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 175% over the years.

What is the land classification for Kamdar Nagar 2nd Street?

The land classification for Kamdar Nagar 2nd Street is Residential Special Type - II.

What are the registration fees for property in Kamdar Nagar 2nd Street?

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 office handles the registration for Kamdar Nagar 2nd Street?

The Chennai Central Joint II Sub Registrar Office handles the registration for Kamdar Nagar 2nd Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.