Guideline Value for Sri Kamachi Nagar

Sri Kamachi Nagar guideline value

The current guideline value of Sri Kamachi Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Kolumanivakkam village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Sri Kamachi Nagar has changed

Over the years, the guideline value of Sri Kamachi Nagar has seen several revisions. The oldest recorded figure is from 2007, where the guideline value was Rs 200 per sq.ft. This value increased significantly to Rs 1,100 per sq.ft in 2012, marking a rise of 450%. However, it then decreased to Rs 737 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 1,100 per sq.ft in 2023, and finally, it reached Rs 1,210 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, moving from Rs 737 per sq.ft to Rs 1,100 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 505%, from Rs 200 per sq.ft to Rs 1,210 per sq.ft.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,290 per sq.ft, with a median value of Rs 1,350 per sq.ft. The guideline value of Sri Kamachi Nagar is below this median.

• Sri Kamatchi Amman Nagar: Rs 1,350 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,350 per sq.ft (2024)
• Sri Maruthi Nagar: Rs 880 per sq.ft (2024)
• Sri Baleeswaran Koil Street: Rs 1,210 per sq.ft (2024)
• Srinath Nagar: Rs 1,930 per sq.ft (2024)
• Srinivasa Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kamachi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total cost for these fees to Rs 1,08,900. It is important to 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 further calculations.

Which Sub Registrar Office covers Sri Kamachi Nagar?

The Sub Registrar Office that covers Sri Kamachi 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 Kolumanivakkam

The guideline value is a crucial component in the registration process when buying or selling property in Kolumanivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sri Kamachi Nagar?

The current guideline value of Sri Kamachi Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, reflecting an overall increase of 505% over this period.

What are the other streets in Kolumanivakkam?

Other streets in Kolumanivakkam include Sri Kamatchi Amman Nagar, Sri Lakshmi Nagar, Sri Maruthi Nagar, Sri Baleeswaran Koil Street, Srinath Nagar, and Srinivasa Nagar, each with their respective guideline values for 2024.

How is stamp duty calculated in Sri Kamachi Nagar?

Stamp duty in Sri Kamachi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in Sri Kamachi Nagar.