Guideline Value for Kanchi Kamakotti Nagar

Kanchi Kamakotti Nagar guideline value

The current guideline value of Kanchi Kamakotti Nagar, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Kanchi Kamakotti Nagar has changed

The guideline value for Kanchi Kamakotti Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, this value dropped to Rs 804 per sq.ft in the 2017 revision, before returning to Rs 1,200 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street in the years 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The guideline value remained unchanged from 2023 to 2024, resulting in a 0% change. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 390%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which is equal to the guideline value of Kanchi Kamakotti Nagar.

• Kamadenu Nagar: Rs 1,200 per sq.ft (2024)
• Karthik Nagar: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-I: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-II: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-III: Rs 1,200 per sq.ft (2024)
• Karthik Nagar Extn-IV: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanchi Kamakotti Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees to Rs 1,08,000. It is important to note that 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 Kanchi Kamakotti Nagar?

The Kanchi Kamakotti Nagar area falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is crucial for calculating the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and transparently. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kanchi Kamakotti Nagar?

The current guideline value of Kanchi Kamakotti Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2024. There have been fluctuations with a significant drop in 2017, but it has returned to Rs 1,200 in the last two revisions.

What is the land classification of Kanchi Kamakotti Nagar?

Kanchi Kamakotti Nagar is classified as Commercial Special Type - I, which indicates its suitability for commercial activities.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kanchi Kamakotti Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000.