Guideline Value for SHRI KAMATCHIAMMAN NAGAR

Shri Kamatchiamman Nagar guideline value

The current guideline value of Shri Kamatchiamman Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village and falls under the Chennai South Joint I SRO, with a land classification of Residential Class IV Type - II.

How the guideline value of Shri Kamatchiamman Nagar has changed

The guideline value for Shri Kamatchiamman Nagar has seen several revisions over the years. Starting from Rs 90 per sq.ft in 2002, it increased to Rs 216 per sq.ft in 2003, marking a significant rise of 140%. The value then rose to Rs 500 per sq.ft in 2007, a further increase of 131%. In 2012, the value reached Rs 1,200 per sq.ft, which was a 140% increase from the previous revision. However, it then dropped to Rs 804 per sq.ft in 2017, reflecting a decrease of 33%. The value increased again to Rs 1,200 per sq.ft in 2023, followed by the current figure of Rs 1,320 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,367%. The register has no figure for this street for the years not mentioned in the revisions.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing Shri Kamatchiamman Nagar's 2024 figure below that median.

• Shri Ganapathy Nagar Annex & Shri Ganapathy Nagar: Rs 1,100 per sq.ft (2024)
• Shri Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Shri Andal Nagar Annex: Rs 1,660 per sq.ft (2024)
• Shri Lalitha Nagar: Rs 1,320 per sq.ft (2024)
• Shri Ramasamy Nagar: Rs 1,320 per sq.ft (2024)
• Shameer Sulthan Inam Maniyam Land: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Kamatchiamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. 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 accurate estimates.

Which Sub Registrar Office covers Shri Kamatchiamman Nagar?

The Sub Registrar Office that covers Shri Kamatchiamman Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

When you buy or sell property in this area, understanding the guideline value helps in making informed decisions regarding the financial aspects of the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Shri Kamatchiamman Nagar?

The current guideline value of Shri Kamatchiamman Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 90 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1,367% over the years.

What is the registration office for Shri Kamatchiamman Nagar?

The registration office for Shri Kamatchiamman Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

How does the guideline value affect property transactions?

The guideline value determines the minimum registration value for property transactions, ensuring that the appropriate stamp duty and registration fees are paid based on the higher of the guideline value or the sale price.