Guideline Value for KAMALA NAGAR MAIN ROAD

Kamala Nagar Main Road guideline value

The current guideline value of Kamala Nagar Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1, under the Neelankarai SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Kamala Nagar Main Road has changed

The guideline value for Kamala Nagar Main Road has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show an increase from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, marking a change of +10%.

In the 2024 revision, the guideline value is set at Rs 4,400 per sq.ft, which is an increase from Rs 4,000 per sq.ft in the 2023 revision. This indicates a significant adjustment in the valuation of properties along this road.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are a total of 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, positioning Kamala Nagar Main Road above this median value.

• Kamala Nagar Cross Street: Rs 4,400 per sq.ft (2024)
• Kamarajar Cross Street: Rs 2,800 per sq.ft (2024)
• Kamarajar Street: Rs 2,800 per sq.ft (2024)
• Kalakkuttai Medu Street: Rs 1,700 per sq.ft (2024)
• Kalakkuttai Medu 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Kalakkuttai Main Road Extension: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kamala Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamala Nagar Main Road?

The Sub Registrar Office that covers Kamala Nagar Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process of property transactions in Sholinganallur - 1. It serves as the basis for calculating the stamp duty and registration fees that are required during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair valuation, which helps in maintaining transparency in the real estate market. Buyers and sellers must be aware of the current guideline values to ensure compliance with local regulations and to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Kamala Nagar Main Road?

The current guideline value of Kamala Nagar Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value changed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, which is an increase of +10%.

What are the guideline values of other streets in Sholinganallur - 1?

Other streets in Sholinganallur - 1 have varying guideline values, with Kamala Nagar Cross Street also at Rs 4,400 per sq.ft, while Kamarajar Cross Street and Kamarajar Street are both at Rs 2,800 per sq.ft.

What is the registration fee for property in Kamala Nagar Main Road?

The registration fee for property in Kamala Nagar Main Road is calculated at 2% of the guideline value. For example, on a property valued at Rs 44,00,000, the registration fee would be Rs 88,000.

Which Sub Registrar Office should I approach for property registration in Kamala Nagar Main Road?

You should approach the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone for property registration in Kamala Nagar Main Road.