Guideline Value for SRI KAMALAVALLI NAGAR

Sri Kamalavalli Nagar guideline value

The current guideline value of Sri Kamalavalli Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village, under the Madurandakam SRO, classified as a New House Site Type -I (Individual House Site).

How the guideline value of Sri Kamalavalli Nagar has changed

The guideline value for Sri Kamalavalli Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then changed to Rs 335 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 550 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 of Sri Kamalavalli Nagar is below this median.

• Sri Kamalavalli Nagar Phase-II: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total charges to Rs 49,500. 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 Sri Kamalavalli Nagar?

The Sub Registrar Office that covers Sri Kamalavalli 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 Mathuranthagam

The guideline value is a crucial factor during the registration of property transactions in Mathuranthagam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the established values.

Frequently asked questions

What is the current guideline value of Sri Kamalavalli Nagar?

The current guideline value of Sri Kamalavalli Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Sri Kamalavalli Nagar?

Sri Kamalavalli Nagar is classified as a New House Site Type -I (Individual House Site).

Where can I find the registration office for Sri Kamalavalli Nagar?

The registration office for Sri Kamalavalli Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Kamalavalli Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at 7%.