Guideline Value for SREE KAMATCHI NAGAR

Sree Kamatchi Nagar guideline value

The current guideline value of Sree Kamatchi Nagar is Rs 102 per sq.ft, effective from 1 July 2024. This locality is situated in Vinayaganaloore village under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of Sree Kamatchi Nagar has changed

The guideline value for Sree Kamatchi Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 100 per sq.ft. This was followed by a decrease to Rs 67 per sq.ft in 2017. The value then saw a significant increase to Rs 100 per sq.ft in 2023, before rising to Rs 102 per sq.ft in the 2024 revision, marking a 2% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 2%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vinayaganaloore

In Vinayaganaloore, there are eight streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft. The median guideline value for these streets is Rs 102 per sq.ft, which is equal to the current value of Sree Kamatchi Nagar.

• Sri Balaji Nagar: Rs 101 per sq.ft (2024)
• Sri Gubera Ganesh Nagar: Rs 100 per sq.ft (2024)
• Sri Guberan Nagar: Rs 101 per sq.ft (2024)
• Saranalaya Nagar Phase-I: Rs 150 per sq.ft (2024)
• Raja Nagar: Rs 103 per sq.ft (2024)
• Vasantham Nagar: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Kamatchi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 102 per sq.ft, the total guideline value would be Rs 1,02,000. The stamp duty at 7% would amount to Rs 7,140, and the registration fee at 2% would be Rs 2,040, making a total of Rs 9,180. It is important to 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 details.

Which Sub Registrar Office covers Sree Kamatchi Nagar?

The Sub Registrar Office that covers Sree Kamatchi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vinayaganaloore. It serves as a benchmark for determining the minimum value at which property transactions must be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps in assessing the applicable charges. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sree Kamatchi Nagar?

The current guideline value of Sree Kamatchi Nagar is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 102 per sq.ft in 2024.

What is the land classification of Sree Kamatchi Nagar?

Sree Kamatchi Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sree Kamatchi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty of Rs 7,140.