Guideline Value for KAMALA NEHRU NAGAR 2ND STREET

Kamala Nehru Nagar 2nd Street guideline value

The current guideline value of Kamala Nehru Nagar 2nd Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Kamala Nehru Nagar 2nd Street has changed

The guideline value for Kamala Nehru Nagar 2nd Street has seen several revisions over the years. In the 2003 revision, the guideline value was Rs 698 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2007. This was followed by a substantial jump to Rs 5,300 per sq.ft in 2012, marking a 253% increase from the previous revision. However, in the 2017 revision, the value decreased to Rs 3,551 per sq.ft, a drop of 33%. The value then rose again to Rs 5,300 per sq.ft in 2023, followed by the current value of Rs 5,800 per sq.ft from the 2024 revision, representing a 9% increase.

It is important to note that there is no figure available for the 2002 revision in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 731%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value. The values range from Rs 3,300 to Rs 14,300 per sq.ft, with the median value being Rs 5,800 per sq.ft, which is equal to the guideline value of Kamala Nehru Nagar 2nd Street.

• Kamala Nehru Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Kamala Nehru Main Road: Rs 5,000 per sq.ft (2024)
• Kalyanapuram: Rs 5,800 per sq.ft (2024)
• Kamaraj Colony 1st Street: Rs 4,600 per sq.ft (2024)
• Kamaraj Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Kamaraj Colony 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kamala Nehru Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value amounts to Rs 58,00,000. The stamp duty, charged at 7%, would be Rs 4,06,000, while the registration fee at 2% would be Rs 1,16,000. Therefore, the total cost for these fees would be Rs 5,22,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kamala Nehru Nagar 2nd Street?

The Sub Registrar Office that covers Kamala Nehru Nagar 2nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller need to be aware of the guideline value, as it impacts the overall transaction costs. It is essential to consult the latest guideline values to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Kamala Nehru Nagar 2nd Street?

The current guideline value of Kamala Nehru Nagar 2nd Street is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 698 per sq.ft in 2003 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 731% over this period.

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

For a property valued at Rs 58,00,000, the stamp duty would be Rs 4,06,000 and the registration fee would be Rs 1,16,000, totaling Rs 5,22,000.

Which office handles the registration for Kamala Nehru Nagar 2nd Street?

The Kodambakkam Sub Registrar Office handles the registration for Kamala Nehru Nagar 2nd Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value at which a property can be registered, impacting the stamp duty and registration fees that must be paid during a transaction.