Guideline Value for Kanchi Kamatchi Amman Nagar 2nd Cross Street

Kanchi Kamatchi Amman Nagar 2nd Cross Street guideline value

The current guideline value of Kanchi Kamatchi Amman Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Kanchi Kamatchi Amman Nagar 2nd Cross Street has changed

The guideline value for Kanchi Kamatchi Amman Nagar 2nd Cross Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% increase from 2023. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. This lack of data means that the changes in guideline value cannot be assessed for those years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, indicating that Kanchi Kamatchi Amman Nagar 2nd Cross Street's 2024 figure is below this median.

• Kanchi Kamatchi Amman Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kamatchi Amman Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kamatchi Amman Nagar: Rs 2,200 per sq.ft (2024)
• Kanchi Kamatchi Amman Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kama Kodi Nagar: Rs 2,200 per sq.ft (2024)
• Kanchi Kamatchi Amman Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanchi Kamatchi Amman Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. 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 precise calculations.

Which Sub Registrar Office covers Kanchi Kamatchi Amman Nagar 2nd Cross Street?

The Kanchi Kamatchi Amman Nagar 2nd Cross Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For further information, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during property registration in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the value of the property in the context of official records. It is essential for calculating the financial obligations associated with the transaction, such as stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Kanchi Kamatchi Amman Nagar 2nd Cross Street?

The current guideline value of Kanchi Kamatchi Amman Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 64% over the seven years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Kanchi Kamatchi Amman Nagar 2nd Cross Street?

The Velacheri Sub Registrar Office handles registrations for Kanchi Kamatchi Amman Nagar 2nd Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current value of Kanchi Kamatchi Amman Nagar 2nd Cross Street.