Guideline Value for KAMARAJ NAGAR 16TH EAST STREET

Kamaraj Nagar 16th East Street guideline value

The current guideline value of Kamaraj Nagar 16th East Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kamaraj Nagar 16th East Street has changed

The guideline value for Kamaraj Nagar 16th East Street has seen several revisions over the years. In 2002, the guideline value was Rs 962 per sq.ft. This increased to Rs 1,064 per sq.ft in 2003, marking an increase of 11%. The value continued to rise significantly, reaching Rs 1,800 per sq.ft in 2007, which was a 69% increase from the previous year. By 2012, the value was Rs 9,000 per sq.ft, reflecting a substantial increase of 400% from 2007. However, this value decreased to Rs 6,030 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 9,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the value at Rs 9,900 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 929%. There are no figures available for any other revisions for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value is Rs 9,900 per sq.ft, which is equal to the current value of Kamaraj Nagar 16th East Street.

• Kamaraj Nagar 15th West Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 16th West Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 15th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 17th Cross Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 14th West Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 17th East Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 16th East Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, leading to a total of Rs 8,91,000. 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamaraj Nagar 16th East Street?

The Kamaraj Nagar 16th East Street falls under 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 Thiruvanmiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value is compared with the sale price. The higher of the two is used to determine the applicable stamp duty and registration fees, ensuring compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 16th East Street?

The current guideline value of Kamaraj Nagar 16th East Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, increasing from Rs 962 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, which is an overall increase of 929%.

What is the role of the Chennai South Joint I SRO?

The Chennai South Joint I SRO is responsible for maintaining the guideline values for properties in the area, including Kamaraj Nagar 16th East Street, and facilitating the registration process for property transactions.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total cost of Rs 8,91,000 in fees.

Where can I find more information about the guideline values in Thiruvanmiyur?

For more information about the guideline values in Thiruvanmiyur, you can refer to the Registration Department's guideline value register or visit the Chennai South Joint I SRO.