Guideline Value for Sri Kamalammal Nagar

Sri Kamalammal Nagar guideline value

The current guideline value of Sri Kamalammal Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Kamalammal Nagar has changed

Over the years, the guideline value of Sri Kamalammal Nagar has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 335 per sq.ft before rising to Rs 500 per sq.ft in 2023. The most recent revision in 2024 increased the value to Rs 550 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%, while the drop from 2012 to 2017 was 33%. Overall, from 2007 to 2024, the guideline value has increased by 83%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft, with a median value of Rs 440 per sq.ft. Sri Kamalammal Nagar's 2024 guideline value is above this median.

• Sri Jayamaruthi Nagar: Rs 440 per sq.ft (2024)
• Sri Krishna Nagar Phase - I: Rs 440 per sq.ft (2024)
• Sri Elumalai Avenue: Rs 440 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 440 per sq.ft (2024)
• Sri Devi Nagar: Rs 440 per sq.ft (2024)
• Sri Chengalamman Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kamalammal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value would be Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Kamalammal Nagar?

The Sub Registrar Office covering Sri Kamalammal Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Vilangadupakkam. It serves as the minimum value for determining the stamp duty and registration fees that must be paid during the transaction process.

Buyers and sellers must be aware that the guideline value can affect the overall cost of property transactions. It is essential to consider this value when negotiating sale prices, as the duty is charged on the higher of the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Sri Kamalammal Nagar?

The current guideline value of Sri Kamalammal Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What are the stamp duty and registration fees for property in Sri Kamalammal Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Sri Kamalammal Nagar?

The Redhills Sub Registrar Office covers Sri Kamalammal Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Sri Kamalammal Nagar?

Sri Kamalammal Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.