Guideline Value for Sri Kamatchi Nagar

Sri Kamatchi Nagar guideline value

The current guideline value of Sri Kamatchi Nagar is Rs 210 per sq.ft, effective from 1 July 2024. This area is located in Nemili village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sri Kamatchi Nagar has changed

The guideline value for Sri Kamatchi Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 125 per sq.ft, which increased to Rs 200 per sq.ft in the 2012 revision. However, in the 2017 revision, the value saw a decrease to Rs 134 per sq.ft. The following revisions showed an upward trend, with the 2023 revision at Rs 200 per sq.ft and the most recent 2024 revision at Rs 210 per sq.ft, marking a 5% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 68%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO that have a guideline value for 2024, ranging from Rs 150 to Rs 1,000 per sq.ft. The median value is Rs 250 per sq.ft, which means that the guideline value of Sri Kamatchi Nagar is below this median.

• Sri Karpaga Vinayaga Nagar Part-1: Rs 1,000 per sq.ft (2024)
• Srinivasa Nagar: Rs 210 per sq.ft (2024)
• Sri Ram Nagar: Rs 400 per sq.ft (2024)
• Sri Ram Nagar Extn: Rs 300 per sq.ft (2024)
• Sowbagiya Co-operative Nagar: Rs 300 per sq.ft (2024)
• Subash Chandrabose Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kamatchi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 210 per sq.ft, the total guideline value would be Rs 2,10,000. The stamp duty at 7% would amount to Rs 14,700, and the registration fee at 2% would be Rs 4,200, making the total fees together Rs 18,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Kamatchi Nagar?

The Sub Registrar Office that covers Sri Kamatchi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Nemili. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers must pay these fees based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is documented at a fair price as per the government regulations. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Sri Kamatchi Nagar?

The current guideline value of Sri Kamatchi Nagar is Rs 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 125 per sq.ft in 2007 to Rs 210 per sq.ft in 2024, showing an overall increase of 68% over this period.

What is the median guideline value in Nemili?

The median guideline value in Nemili for 2024 is Rs 250 per sq.ft, which is higher than the guideline value of Sri Kamatchi Nagar.

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

For a property valued at Rs 2,10,000, the stamp duty would be Rs 14,700 and the registration fee would be Rs 4,200, totaling Rs 18,900.

Which office handles property registration for Sri Kamatchi Nagar?

The Sriperumpudur Sub Registrar Office handles property registration for Sri Kamatchi Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.