Guideline Value for South Kamatchi Nagar

South Kamatchi Nagar guideline value

The current guideline value of South Kamatchi Nagar is Rs 1,830 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A village, under the Kunrathur SRO, and is classified as Residential Class I Type - II.

How the guideline value of South Kamatchi Nagar has changed

The guideline value for South Kamatchi Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,107 per sq.ft, which increased to Rs 1,653 per sq.ft in 2023. The latest revision in 2024 raised the value further to Rs 1,830 per sq.ft, marking an increase of 11% from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 65%.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, indicating a substantial rise in the guideline value over that period.

Guideline values in Mangadu -A

In Mangadu -A, a total of 208 streets are registered under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing South Kamatchi Nagar's 2024 figure below this median.

• South Colony Street: Rs 1,830 per sq.ft (2024)
• South Colony 1st, 2nd & 3rd Street: Rs 1,830 per sq.ft (2024)
• South Mada Street: Rs 1,830 per sq.ft (2024)
• South Street: Rs 1,830 per sq.ft (2024)
• Sree Kamatchi Amman Nagar: Rs 3,300 per sq.ft (2024)
• S.K.M. Nagar: Rs 1,830 per sq.ft (2024)

Stamp duty and registration fee for property in South Kamatchi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,830 per sq.ft, the guideline value amounts to Rs 18,30,000. The stamp duty at 7% would be Rs 1,28,100, and the registration fee at 2% would be Rs 36,600, bringing the total to Rs 1,64,700. 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 accurate calculations.

Which Sub Registrar Office covers South Kamatchi Nagar?

The Sub Registrar Office that covers South Kamatchi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in property transactions in Mangadu -A, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. The value serves as a benchmark for both parties, facilitating a smoother transaction.

Frequently asked questions

What is the current guideline value of South Kamatchi Nagar?

The current guideline value of South Kamatchi Nagar is Rs 1,830 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,107 per sq.ft in 2017 to Rs 1,830 per sq.ft in 2024, marking an overall increase of 65%.

What is the land classification of South Kamatchi Nagar?

South Kamatchi Nagar is classified as Residential Class I Type - II.

Where can I find the registration office for South Kamatchi Nagar?

The registration office for South Kamatchi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in South Kamatchi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 18,30,000 would incur a stamp duty of Rs 1,28,100 at a rate of 7%.