Guideline Value for Sri Kamatchi Avenue

Sri Kamatchi Avenue guideline value

The current guideline value of Sri Kamatchi Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Mangadu -A under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Sri Kamatchi Avenue has changed

The guideline value for Sri Kamatchi Avenue has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in 2023, marking a change of +10%. Before that, the 2017 revision recorded a guideline value of Rs 1,340 per sq.ft, which means there was a significant increase of +49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by +64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the changes in guideline value are only reflected from the revisions in 2017, 2023, and 2024.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Sri Kamatchi Avenue's 2024 figure above this median.

• Sri Kamatchi Amman Nagar Annexe II: Rs 2,200 per sq.ft (2024)
• Sri Kamatchi Amman Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Sri Kali Amman Nagar Extension: Rs 1,980 per sq.ft (2024)
• Sri Iyyappan Nagar: Rs 1,480 per sq.ft (2024)
• Sri Krishna Nagar: Rs 2,750 per sq.ft (2024)
• Sri Guru Avenue: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kamatchi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations based on your specific property.

Which Sub Registrar Office covers Sri Kamatchi Avenue?

The Sub Registrar Office that covers Sri Kamatchi Avenue 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, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value helps maintain transparency in real estate transactions, providing a benchmark for both buyers and sellers. This ensures that properties are not undervalued or overvalued during the registration process.

Frequently asked questions

What is the current guideline value of Sri Kamatchi Avenue?

The current guideline value of Sri Kamatchi Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +64%. The value was Rs 2,000 per sq.ft in 2023, showing a +10% increase from that year to 2024.

What is the land classification of Sri Kamatchi Avenue?

Sri Kamatchi Avenue is classified as Residential Special Type - I under the land classification system.

Where can I find the registration office for Sri Kamatchi Avenue?

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

How is stamp duty calculated for properties in Sri Kamatchi Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.