Guideline Value for Kanchi Kamatchi Nagar 3rd Main Road

Kanchi Kamatchi Nagar 3rd Main Road guideline value

The current guideline value for Kanchi Kamatchi Nagar 3rd Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Kanchi Kamatchi Nagar 3rd Main Road has changed

The guideline value for Kanchi Kamatchi Nagar 3rd Main Road has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a significant increase from the 2017 revision where the value was Rs 1,340 per sq.ft. This change represents a rise of 64% over the seven-year period.

It is important to note that there are no recorded figures for this street in the revisions for the years 2002, 2003, 2007, 2012, and 2023. Therefore, the only available figures are from the 2017 and 2024 revisions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Kanchi Kamatchi Nagar 3rd Main Road is below this median.

• Kanchi Kamatchi Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Kanchi Kamatchi Nagar 4th Main Road: Rs 2,200 per sq.ft (2024)
• Kanchi Kamatchi Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Kanchi Kamatchi Nagar 5th Main Road: Rs 2,200 per sq.ft (2024)
• Kanchi Kamatchi Amman Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Kanchi Kamatchi Nagar Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kanchi Kamatchi Nagar 3rd Main Road

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, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kanchi Kamatchi Nagar 3rd Main Road?

The Kanchi Kamatchi Nagar 3rd Main Road falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the transaction is registered at a value that reflects the current market conditions as set by the government.

When you proceed with a property transaction, the guideline value is assessed to calculate the fees, which are mandatory for registration at the Velacheri SRO. This process helps maintain transparency and compliance with legal requirements in real estate transactions.

Frequently asked questions

What is the current guideline value for Kanchi Kamatchi Nagar 3rd Main Road?

The current guideline value for Kanchi Kamatchi Nagar 3rd Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a 64% increase over this period.

Are there any years without recorded figures for this street?

Yes, there are no recorded figures for Kanchi Kamatchi Nagar 3rd Main Road in the years 2002, 2003, 2007, 2012, and 2023.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.