Guideline Value for KAMARAJ COLONY

Kamaraj Colony guideline value

The current guideline value of Kamaraj Colony, located in Tnagar village under the Thiyagaraya nagar SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - II.

How the guideline value of Kamaraj Colony has changed

The guideline value for Kamaraj Colony has seen several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which was then reduced to Rs 3,350 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 5,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 5,500 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The latest revision from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a guideline value for 2024, ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Kamaraj Colony's 2024 guideline value of Rs 5,500 per sq.ft is below this median.

• Kamalabai Street: Rs 8,300 per sq.ft (2024)
• Kaliur Srinivasa Chari Road: 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 Kamaraj Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Colony?

Kamaraj Colony falls under the jurisdiction of the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Kamaraj Colony?

The current guideline value of Kamaraj Colony is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification of Kamaraj Colony?

Kamaraj Colony is classified as Residential Class III Type - II.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

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

How is the stamp duty calculated for properties in Kamaraj Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.