Guideline Value for Sri Kamatchi Nagar

Sri Kamatchi Nagar guideline value

The current guideline value of Sri Kamatchi Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is located in Noombal village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Kamatchi Nagar has changed

The guideline value for Sri Kamatchi Nagar has seen significant changes over the years. In the 2003 revision, the guideline value was Rs 132 per sq.ft. This value increased dramatically to Rs 1,273 per sq.ft in the 2017 revision, marking an increase of 864%. The 2023 revision saw the value rise to Rs 1,900 per sq.ft, which is a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,090 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the years 2002, 2007, and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1483%, showcasing a significant rise over the years.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is the same as the current value for Sri Kamatchi Nagar.

• Sri Krishna Nagar: Rs 2,090 per sq.ft (2024)
• Sri Dhanalakshmi Avenue: Rs 2,090 per sq.ft (2024)
• Sri Moogambikai Nagar Extn: Rs 2,860 per sq.ft (2024)
• Sri Balaji Nagar Adithi Avenue: Rs 2,090 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,090 per sq.ft (2024)
• Sri Padhmavathy Nagar: Rs 2,090 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Kamatchi Nagar?

The Sub Registrar Office covering Sri Kamatchi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Noombal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Kamatchi Nagar?

The current guideline value of Sri Kamatchi Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 132 per sq.ft to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of 1483%.

What is the registration fee for property in Sri Kamatchi Nagar?

The registration fee for property in Sri Kamatchi Nagar is charged at 2% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions in Noombal. It acts as a benchmark for determining the financial obligations of buyers and sellers.