Guideline Value for Sri Kamalam Nagar

Sri Kamalam Nagar guideline value

The current guideline value of Sri Kamalam Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024. This area is located in Soorapattu village under the Ambattur Sub Registrar Office (SRO) and is classified as Residential Class I Type - III.

How the guideline value of Sri Kamalam Nagar has changed

The guideline value for Sri Kamalam Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,300 per sq.ft, which was then reduced to Rs 871 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,300 per sq.ft in 2023, and the most recent revision in 2024 has raised it to Rs 1,400 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Examining the changes between revisions, the value increased by 49% from 2017 to 2023, followed by an 8% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has seen an 8% increase.

Guideline values in Soorapattu

In Soorapattu, there are 115 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for Sri Kamalam Nagar is above this median.

• Sri Ramanujar Enclave: Rs 1,601 per sq.ft (2024)
• Soorapattu Main Road: Rs 1,900 per sq.ft (2024)
• Somci Boy Nagar: Rs 1,300 per sq.ft (2024)
• Sivaprakasam Nagar: Rs 1,900 per sq.ft (2024)
• Sis Cape town Phase-IV: Rs 4,478 per sq.ft (2024)
• Sis Cape town Phase-III: Rs 4,478 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kamalam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,400 per sq.ft, the guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, totaling Rs 1,26,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Kamalam Nagar?

The Sub Registrar Office that covers Sri Kamalam Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Soorapattu. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property. This value is established by the Registration Department and is updated periodically to reflect changes in the real estate market.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be aware of the current guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Kamalam Nagar?

The current guideline value of Sri Kamalam Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,400 per sq.ft in 2024.

What is the land classification of Sri Kamalam Nagar?

Sri Kamalam Nagar is classified as Residential Class I Type - III.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated in Sri Kamalam Nagar?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 at a rate of 7%.