Guideline Value for KAMARAJ COLONY 1ST STREET

Kamaraj Colony 1st Street guideline value

The current guideline value of Kamaraj Colony 1st Street is Rs 4,600 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 IV Type - I land classification.

How the guideline value of Kamaraj Colony 1st Street has changed

The guideline value for Kamaraj Colony 1st Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 798 per sq.ft. It increased to Rs 877 per sq.ft in 2003, marking a 10% rise. The value continued to rise to Rs 1,305 per sq.ft in 2007, which was a significant increase of 49%. The 2012 revision saw a decrease to Rs 4,300 per sq.ft, a drop of 33% from the previous figure. The value then rose again to Rs 2,881 per sq.ft in 2017, reflecting a 49% increase. The 2023 revision set the guideline value at Rs 4,300 per sq.ft, which was maintained until the latest revision.

In the most recent 2024 revision, the guideline value increased to Rs 4,600 per sq.ft, representing a 7% rise from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 476%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value for Kamaraj Colony 1st Street is below this median.

• Kamaraj Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Kamaraj Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Kamaraj Colony 4th Street: Rs 4,400 per sq.ft (2024)
• Kamaraj Colony 5th Street: Rs 4,400 per sq.ft (2024)
• Kamaraj Colony 6th Street: Rs 4,400 per sq.ft (2024)
• Kamaraj Colony 7th Street: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,600 per sq.ft, the total guideline value would be Rs 46,00,000. The stamp duty at 7% would amount to Rs 3,22,000, and the registration fee at 2% would be Rs 92,000, resulting in a total of Rs 4,14,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Colony 1st Street?

The Kamaraj Colony 1st Street is covered by the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the current market conditions. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

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

The current guideline value of Kamaraj Colony 1st Street is Rs 4,600 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 798 per sq.ft in 2002 to Rs 4,600 per sq.ft in 2024, reflecting an overall increase of 476% over the years.

What are the stamp duty and registration fees for properties in Kamaraj Colony 1st Street?

For a property valued at Rs 46,00,000, the stamp duty would be Rs 3,22,000, and the registration fee would be Rs 92,000, totaling Rs 4,14,000.

Which office handles the registration for Kamaraj Colony 1st Street?

The registration for Kamaraj Colony 1st Street is handled by the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the guideline value determined for properties in Puliyur?

The guideline value is determined based on various factors and is revised periodically by the Registration Department to reflect current market conditions, ensuring that property transactions are registered at appropriate values.