Guideline Value for Sri Kamakotti Nagar

Sri Kamakotti Nagar guideline value

The current guideline value of Sri Kamakotti Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Commercial Special Type - I.

How the guideline value of Sri Kamakotti Nagar has changed

The guideline value for Sri Kamakotti Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, it decreased to Rs 804 per sq.ft in the 2017 revision, before rising again to Rs 1,200 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2007 to 2012 was a remarkable 390%. Overall, from 2007 to 2024, the guideline value has increased by 390%, reflecting significant changes in the area over the years.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. The guideline value for Sri Kamakotti Nagar aligns with this median.

• Sri Karumari Amman Nagar: Rs 1,200 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,200 per sq.ft (2024)
• Sri Lakshmi Nagar Extn: Rs 1,200 per sq.ft (2024)
• Sri Lakshmi Narayana Nagar: Rs 1,200 per sq.ft (2024)
• Sri Lakshmi Narayan Perumal Avenue: Rs 1,200 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kamakotti Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Kamakotti Nagar?

Sri Kamakotti Nagar falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Sri Kamakotti Nagar?

The current guideline value of Sri Kamakotti Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, with significant increases and decreases. From Rs 245 per sq.ft in 2007, it rose to Rs 1,200 per sq.ft in 2012, dropped to Rs 804 per sq.ft in 2017, and returned to Rs 1,200 per sq.ft in both 2023 and 2024.

What is the land classification of Sri Kamakotti Nagar?

Sri Kamakotti Nagar is classified as Commercial Special Type - I, indicating its commercial potential within the locality.

What are the other streets with the same guideline value in Madambakkam?

Other streets in Madambakkam with the same guideline value of Rs 1,200 per sq.ft for 2024 include Sri Karumari Amman Nagar, Sri Lakshmi Nagar, Sri Lakshmi Nagar Extn, Sri Lakshmi Narayana Nagar, Sri Lakshmi Narayan Perumal Avenue, and Srinivasa Nagar.

Where can I find the registration office for Sri Kamakotti Nagar?

The registration office for Sri Kamakotti Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.