Guideline Value for KAMARAJ 1ST STREET

Kamaraj 1st Street guideline value

The current guideline value of Kamaraj 1st Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Kamaraj 1st Street has changed

The guideline value for Kamaraj 1st Street has seen significant changes over the years. In 2007, the guideline value was Rs 1,100 per sq.ft. It increased dramatically to Rs 4,500 per sq.ft in 2012, marking a rise of 309%. However, this value then decreased to Rs 3,015 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and most recently, it has increased to Rs 4,900 per sq.ft in 2024, representing a change of 9% from the previous year.

For the period from 2017 to 2023, the increase was substantial at 49%. Overall, from 2007 to 2024, the guideline value has increased by 345%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, which means that Kamaraj 1st Street's 2024 figure is below this median.

• Kalyana Maistry Garden 9th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 8th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 7th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 6th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 5th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, charged at 7%, would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000. Together, the total cost for these fees would be Rs 4,41,000. 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 our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Kamaraj 1st Street?

Kamaraj 1st Street is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware of the guideline value to ensure that transactions are compliant with local regulations.

At the time of registration, the guideline value is used to calculate stamp duty and registration fees. This ensures that the fees are based on a fair valuation of the property, preventing undervaluation and ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kamaraj 1st Street?

The current guideline value of Kamaraj 1st Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,100 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Kamaraj 1st Street?

Kamaraj 1st Street is classified as Residential Class III Type - II, indicating its suitability for residential purposes.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Kamaraj 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at 7%.