Guideline Value for Kamsan Nagar (Ward-8)

Kamsan Nagar (Ward-8) guideline value

The current guideline value of Kamsan Nagar (Ward-8) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Kamsan Nagar (Ward-8) has changed

In the 2023 revision, the guideline value was set at Rs 2,000 per sq.ft. This represents a 10% increase to the current value of Rs 2,200 per sq.ft in the 2024 revision. There are no figures available for the revisions in the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only recorded revisions for Kamsan Nagar (Ward-8) are from 2023 to 2024, with a change from Rs 2,000 to Rs 2,200 per sq.ft. The guideline value has increased in this period, reflecting the latest update in the register.

Guideline values in Madhavaram

In Madhavaram, the guideline values for the 2024 revision 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 Kamsan Nagar (Ward-8) is above this median, indicating a higher valuation compared to many other streets in the area.

• Kanaga Chatiram (Ward 20): Rs 1,300 per sq.ft (2024)
• Kanagan Chathiram (Ward-30): Rs 1,300 per sq.ft (2024)
• Kanchi Nagar: Rs 1,300 per sq.ft (2024)
• Kanchi Nagar Extension: Rs 1,300 per sq.ft (2024)
• Kanchi Nagar Road ( Ward No.29 ): Rs 1,300 per sq.ft (2024)
• Kanchi Nagar (Ward-29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamsan Nagar (Ward-8)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamsan Nagar (Ward-8)?

The Sub Registrar Office that covers Kamsan Nagar (Ward-8) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are calculated accurately.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential for ensuring compliance with local regulations and for calculating the associated costs of property transactions.

Frequently asked questions

What is the current guideline value of Kamsan Nagar (Ward-8)?

The current guideline value of Kamsan Nagar (Ward-8) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed from 2023 to 2024?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, representing a 10% increase.

What is the land classification for Kamsan Nagar (Ward-8)?

Kamsan Nagar (Ward-8) is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registration activities for properties in the area.

How is stamp duty calculated for properties in Kamsan Nagar (Ward-8)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, the stamp duty for a 1,000 sq.ft plot would be Rs 1,54,000.