Guideline Value for KAMARAJ NAGAR (THANTHANKUPPAM)

Kamaraj Nagar (Thanthankuppam) guideline value

The current guideline value of Kamaraj Nagar (Thanthankuppam) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, falling under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Kamaraj Nagar (Thanthankuppam) has changed

The guideline value for Kamaraj Nagar (Thanthankuppam) has seen several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, there was a decline to Rs 1,005 per sq.ft in 2017. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, marking a 59% increase from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 967%. Notably, the register has no figures for the years 2002, 2003, and 2023 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. Kamaraj Nagar (Thanthankuppam) is below this median value.

• Kamaraj Nagar (Korattur) 1 To 10 Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Kamaraj Nagar Extension (All Street's): Rs 3,300 per sq.ft (2024)
• Kammalar Street: Rs 1,600 per sq.ft (2024)
• Kamala Nagar: Rs 1,600 per sq.ft (2024)
• Kandigai Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar (Thanthankuppam)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total fees Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamaraj Nagar (Thanthankuppam)?

The Sub Registrar Office that covers Kamaraj Nagar (Thanthankuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Korattur. It is used to determine the stamp duty and registration fees applicable during the property registration process. Buyers should be aware that the guideline value serves as a baseline for calculating these fees, ensuring that the transaction is recorded accurately with the authorities.

When registering a property, the guideline value will be compared to the sale price, and the higher of the two will be used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar (Thanthankuppam)?

The current guideline value of Kamaraj Nagar (Thanthankuppam) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 967% over the years.

What is the land classification of Kamaraj Nagar (Thanthankuppam)?

Kamaraj Nagar (Thanthankuppam) is classified as Residential Class III Type - III, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Kamaraj Nagar (Thanthankuppam)?

The Sub Registrar Office for Kamaraj Nagar (Thanthankuppam) is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Kamaraj Nagar (Thanthankuppam)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7% of the guideline value.