Guideline Value for SRI KAMATCHI AMMAN NAGAR (TAI)

Sri Kamatchi Amman Nagar (Tai) guideline value

The current guideline value of Sri Kamatchi Amman Nagar (Tai) is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sri Kamatchi Amman Nagar (Tai) has changed

The guideline value for Sri Kamatchi Amman Nagar (Tai) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision and further rose to Rs 1,100 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, making the current value of Sri Kamatchi Amman Nagar (Tai) above this median.

• Sri Kamatchi Nagar Extension (Tai): Rs 1,100 per sq.ft (2024)
• Sripuram (Val): Rs 880 per sq.ft (2024)
• Sri Ram Nagar (Val): Rs 880 per sq.ft (2024)
• Srm Nagar (Ward-20): Rs 1,320 per sq.ft (2024)
• Sheep Farm Road (Ward-21): Rs 660 per sq.ft (2024)
• Shanmugapriya Nagar (Ward-21): Rs 1,651 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kamatchi Amman Nagar (Tai)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Kamatchi Amman Nagar (Tai)?

The Chengleput Joint II Sub Registrar Office covers Sri Kamatchi Amman Nagar (Tai). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Potheri, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is a benchmark set by the government, which helps in assessing the fair value of the property for taxation purposes.

During the registration process, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Kamatchi Amman Nagar (Tai)?

The current guideline value of Sri Kamatchi Amman Nagar (Tai) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sri Kamatchi Amman Nagar (Tai)?

Sri Kamatchi Amman Nagar (Tai) is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for this area?

The registration office for Sri Kamatchi Amman Nagar (Tai) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Potheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.