Guideline Value for KADAMBADI AMMAN NAGAR - Gajalakshmi Street

KADAMBADI AMMAN NAGAR - Gajalakshmi Street guideline value

The current guideline value for KADAMBADI AMMAN NAGAR - Gajalakshmi Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class III Type - II.

How the guideline value of KADAMBADI AMMAN NAGAR - Gajalakshmi Street has changed

The guideline value for KADAMBADI AMMAN NAGAR - Gajalakshmi Street has seen several revisions over the years. In 2002, the value was Rs 100 per sq.ft, which increased to Rs 111 per sq.ft in 2003, marking an 11% rise. The value then experienced a significant increase of 350% to reach Rs 500 per sq.ft in 2007. Following this, the guideline value rose dramatically to Rs 2,250 per sq.ft in 2012, reflecting a 350% increase. However, it dropped by 33% to Rs 1,507 per sq.ft in 2017. The value was revised to Rs 2,250 per sq.ft in 2023, before the latest increase to Rs 2,500 per sq.ft in 2024, which is an 11% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2400%. The register contains no figures for revisions in the years not listed above.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making the 2024 figure for KADAMBADI AMMAN NAGAR - Gajalakshmi Street above that median.

• KADAMBADI AMMAN NAGAR - Chokalingam Street: Rs 2,500 per sq.ft (2024)
• KADAMBADI AMMAN NAGAR - Jothilakshmi Street: Rs 2,500 per sq.ft (2024)
• KADAMBADI AMMAN NAGAR - Ayyappan Street: Rs 2,500 per sq.ft (2024)
• KADAMBADI AMMAN NAGAR - Kadambadi Naicken Street: Rs 2,500 per sq.ft (2024)
• KADAMBADI AMMAN NAGAR - Astalakshmi Street: Rs 2,500 per sq.ft (2024)
• KADAMBADI AMMAN NAGAR - Ramalingam Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in KADAMBADI AMMAN NAGAR - Gajalakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers KADAMBADI AMMAN NAGAR - Gajalakshmi Street?

The KADAMBADI AMMAN NAGAR - Gajalakshmi Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Nerkundram. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for property transactions. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that all transactions are fairly documented and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of KADAMBADI AMMAN NAGAR - Gajalakshmi Street?

The current guideline value for KADAMBADI AMMAN NAGAR - Gajalakshmi Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of 2400% over the years.

What is the median guideline value in Nerkundram?

The median guideline value in Nerkundram is Rs 2,200 per sq.ft, with KADAMBADI AMMAN NAGAR - Gajalakshmi Street's 2024 value being above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Where is the Sub Registrar Office for KADAMBADI AMMAN NAGAR - Gajalakshmi Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.