Guideline Value for SRI KAMALAVALLI NAGAR PHASE-II

Sri Kamalavalli Nagar Phase-II guideline value

The current guideline value of Sri Kamalavalli Nagar Phase-II is Rs 555 per sq.ft, effective from 1 July 2024. This property is located in Mathuranthagam village and falls under the Madurandakam SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Kamalavalli Nagar Phase-II has changed

Over the years, the guideline value for Sri Kamalavalli Nagar Phase-II has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was later decreased to Rs 335 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, and in the latest 2024 revision, it rose to Rs 555 per sq.ft, marking an 11% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but overall, from 2012 to 2024, the guideline value has increased by 11%. The 2023 to 2024 revision reflects an 11% increase, bringing the current rate to Rs 555 per sq.ft.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Sri Kamalavalli Nagar Phase-II is below this median.

• Sri Kamalavalli Nagar: Rs 555 per sq.ft (2024)
• Sri Eri Ram Sai Nagar: Rs 555 per sq.ft (2024)
• Sri Meenakshi Garden: Rs 1,110 per sq.ft (2024)
• Sri Ragavendra Nagar Phase - I: Rs 440 per sq.ft (2024)
• Sri Raghavendra Nagar Phase-III: Rs 1,110 per sq.ft (2024)
• Sri Ranga Nagar: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kamalavalli Nagar Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 555 per sq.ft, the total guideline value would be Rs 5,55,000. The stamp duty at 7% would amount to Rs 38,850, and the registration fee at 2% would be Rs 11,100, bringing the total cost for these fees to Rs 49,950. 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 details.

Which Sub Registrar Office covers Sri Kamalavalli Nagar Phase-II?

The Madurandakam Sub Registrar Office covers Sri Kamalavalli Nagar Phase-II. The office is located at No.53, Old Taluk Office Road, Maduranthakam-603306 in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mathuranthagam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the government receives the correct revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Kamalavalli Nagar Phase-II?

The current guideline value of Sri Kamalavalli Nagar Phase-II is Rs 555 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 500 per sq.ft in 2012, decreasing to Rs 335 per sq.ft in 2017, and then increasing to Rs 500 per sq.ft in 2023, finally reaching Rs 555 per sq.ft in 2024.

What is the land classification for Sri Kamalavalli Nagar Phase-II?

Sri Kamalavalli Nagar Phase-II is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.

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

For a property valued at Rs 5,55,000, the stamp duty would be Rs 38,850, and the registration fee would be Rs 11,100, totaling Rs 49,950. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Sri Kamalavalli Nagar Phase-II?

The Madurandakam Sub Registrar Office is responsible for handling registrations for Sri Kamalavalli Nagar Phase-II, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu.