Guideline Value for KAMALABAI STREET

Kamalabai Street guideline value

The current guideline value of Kamalabai Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kamalabai Street has changed

The guideline value for Kamalabai Street has seen significant changes over the years. In 2002, the value was Rs 1,510 per sq.ft, which increased to Rs 1,676 per sq.ft in 2003. The value continued to rise, reaching Rs 2,000 per sq.ft in 2007, and then saw a substantial jump to Rs 7,500 per sq.ft in 2012. However, it dropped to Rs 5,025 per sq.ft in 2017 before increasing to Rs 7,500 per sq.ft again in 2023.

The most recent revision in 2024 set the guideline value at Rs 8,300 per sq.ft, marking an increase of 11% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 450%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Kamalabai Street's 2024 figure is below this median.

• Kaliur Srinivasa Chari Road: Rs 5,500 per sq.ft (2024)
• Kamaraj Colony: Rs 5,500 per sq.ft (2024)
• Kannadasan Street / Kannadasan Road: Rs 17,600 per sq.ft (2024)
• Kannammapet: Rs 5,500 per sq.ft (2024)
• Kanniah Street: Rs 6,600 per sq.ft (2024)
• Jawaharlal Nehru Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kamalabai Street

For a 1,000 sq.ft plot at the current rate of Rs 8,300 per sq.ft, the guideline value amounts to Rs 83,00,000. The stamp duty, charged at 7%, would be Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total to Rs 7,47,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamalabai Street?

Kamalabai Street is covered by the Thiyagaraya nagar Sub Registrar Office located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Tnagar. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This value is crucial for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Kamalabai Street?

The current guideline value of Kamalabai Street is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,510 in 2002 to Rs 8,300 in 2024, showing a significant increase over the years.

What is the median guideline value in Tnagar?

The median guideline value in Tnagar is Rs 11,000 per sq.ft, with Kamalabai Street's value being below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Kamalabai Street is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Kamalabai Street?

The Sub Registrar Office covering Kamalabai Street is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.