Guideline Value for KAMARAJ CROSS STREET

Kamaraj Cross Street guideline value

The current guideline value of Kamaraj Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Kamaraj Cross Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 2,000 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the current value to Rs 2,200 per sq.ft.

The register has no figures for Kamaraj Cross Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Kamaraj Cross Street.

• Kamaraj Garden: Rs 2,750 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,750 per sq.ft (2024)
• Kamaraj Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamaraj Cross Street?

The Sub Registrar Office that covers Kamaraj Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Medavakkam. It determines 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, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for a legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Kamaraj Cross Street?

The current guideline value of Kamaraj Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes, starting from Rs 2,000 in 2012, decreasing to Rs 1,340 in 2017, and then increasing to Rs 2,000 in 2023, before reaching Rs 2,200 in 2024.

What is the classification of land for Kamaraj Cross Street?

Kamaraj Cross Street is classified as Residential Class I Type - I under the Chennai South Joint I SRO.

What are the other streets in Medavakkam with guideline values?

Other streets in Medavakkam include Kamaraj Garden, Kamaraj Nagar, Kamaraj Nagar 1st Street, Kamaraj Nagar 2nd Street, Kamaraj Nagar 3rd Street, and Kamaraj Street, with values ranging from Rs 2,200 to Rs 2,750 per sq.ft.

Where can I find the Sub Registrar Office for Kamaraj Cross Street?

The Sub Registrar Office for Kamaraj Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.