Guideline Value for SRI KAMATCHI NAGAR EXTENSION (TAI)

Sri Kamatchi Nagar Extension (Tai) guideline value

The current guideline value of Sri Kamatchi Nagar Extension (Tai) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Konathi village under the Chengleput Joint II SRO, and it falls under the Residential Class I Type - II land classification.

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

The guideline value for Sri Kamatchi Nagar Extension (Tai) has seen several revisions over the years. The earliest available revision is from 2012, where the guideline value was Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017, marking a 33% decline. In 2023, the value increased to Rs 800 per sq.ft, and the most recent revision in 2024 set the value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 800 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, placing Sri Kamatchi Nagar Extension (Tai) above this median.

• Sri Kamatchi Amman Nagar (Tai): Rs 880 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 1,650 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty is calculated at 7%, which totals Rs 61,600, and the registration fee at 2% amounts to Rs 17,600. Together, these fees total Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

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

The Sri Kamatchi Nagar Extension (Tai) area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Konathi

The guideline value is a crucial factor when registering property transactions in Konathi. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the property registration process.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. Buyers and sellers must be aware of the current guideline value to ensure they comply with the registration requirements.

Frequently asked questions

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

The current guideline value of Sri Kamatchi Nagar Extension (Tai) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

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

For a property valued at Rs 8,80,000, the stamp duty is Rs 61,600, and the registration fee is Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers this area?

The Chengleput Joint II Sub Registrar Office covers Sri Kamatchi Nagar Extension (Tai), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

Sri Kamatchi Nagar Extension (Tai) falls under the Residential Class I Type - II land classification.