Guideline Value for West Kamakodi Nagar Vel Murugan Street

West Kamakodi Nagar Vel Murugan Street guideline value

The current guideline value of West Kamakodi Nagar Vel Murugan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of West Kamakodi Nagar Vel Murugan Street has changed

The guideline value for West Kamakodi Nagar Vel Murugan Street has undergone several revisions over the years. In 2012, the guideline value was Rs 4,000 per sq.ft, which decreased to Rs 2,680 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 4,400 per sq.ft, marking a 64% rise from the 2017 figure. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

When looking at the changes overall, from 2012 to 2024, the guideline value has increased by 10%. The fluctuations in the values reflect the changes in the real estate landscape, with the most notable rise occurring between 2017 and 2024.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 3,850 per sq.ft, placing West Kamakodi Nagar Vel Murugan Street above this median value.

• WEST KAMAKODI NAGAR - Velavan Street: Rs 4,400 per sq.ft (2024)
• WEST KAMAKODI NAGAR - Senathipathi Street: Rs 4,400 per sq.ft (2024)
• West Kamokodi nagar Agathiyar Street 1st Cross Street: Rs 4,400 per sq.ft (2024)
• WEST KAMAKODI NAGAR - Senathipathi 4th Cross Street: Rs 4,400 per sq.ft (2024)
• West Kamokodi nagar Agathiyar Street 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• WEST KAMAKODI NAGAR - Senathipathi 3rd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in West Kamakodi Nagar Vel Murugan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West Kamakodi Nagar Vel Murugan Street?

The Sub Registrar Office that covers West Kamakodi Nagar Vel Murugan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the property transaction process.

Frequently asked questions

What is the current guideline value of West Kamakodi Nagar Vel Murugan Street?

The current guideline value of West Kamakodi Nagar Vel Murugan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then increased to Rs 4,400 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

What is the land classification of West Kamakodi Nagar Vel Murugan Street?

West Kamakodi Nagar Vel Murugan Street is classified as Residential Class I Type - II. This classification influences the guideline value and the types of properties that can be developed in the area.

Where can I find the Virugambakkam Sub Registrar Office?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in West Kamakodi Nagar Vel Murugan Street?

Stamp duty for properties in West Kamakodi Nagar Vel Murugan Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,08,000.