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 1,100 per sq.ft, effective from 1 July 2024. This area is located in Potheri village under the Chengleput Joint II SRO and is classified as Residential Class I Type - I.

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 2012 revision set the value at Rs 1,000 per sq.ft, which was later reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 1,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,100 per sq.ft. 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%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO carrying a 2024 guideline value, ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Sri Kamatchi Nagar Extension (Tai) above this median.

• Sri Kamatchi Amman Nagar (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 Nagar Extension (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 is charged at 7%, which totals Rs 77,000, while the registration fee is 2%, amounting to Rs 22,000. Together, the total cost for stamp duty and registration fee would be Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office covering Sri Kamatchi Nagar Extension (Tai) is the Chengleput Joint II Sub Registrar Office, 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

The guideline value plays a crucial role in the registration process when buying or selling property in Potheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 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 back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

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

Sri Kamatchi Nagar Extension (Tai) is classified as Residential Class I Type - I. This classification is important for understanding the permissible uses of the land.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 1,100 per sq.ft incurs a total stamp duty and registration fee of Rs 99,000.

Where can I find the Sub Registrar Office for Sri Kamatchi Nagar Extension (Tai)?

The Chengleput Joint II Sub Registrar Office covers Sri Kamatchi Nagar Extension (Tai) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information online.