Guideline Value for KAMARAJ NAGAR 1ST CROSS STREET

Kamaraj Nagar 1st Cross Street guideline value

The current guideline value of Kamaraj Nagar 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kamaraj Nagar 1st Cross Street has changed

The guideline value for Kamaraj Nagar 1st Cross Street has seen several revisions over the years. In 2002, the value was Rs 173 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a 45% rise. By 2007, the value surged to Rs 600 per sq.ft, reflecting a significant increase of 140%. The 2012 revision saw the value at Rs 3,000 per sq.ft, a substantial 400% increase from the previous figure. However, in 2017, the value dropped to Rs 2,010 per sq.ft, which was a decrease of 33%. The following revision in 2023 set the value at Rs 3,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,300 per sq.ft, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1808%. There are no figures available for Kamaraj Nagar 1st Cross Street for the years not listed in the revisions.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value for Kamaraj Nagar 1st Cross Street.

• Kamaraj Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 12th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total Rs 2,97,000. It is important to note that 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 details.

Which Sub Registrar Office covers Kamaraj Nagar 1st Cross Street?

The Sub Registrar Office that covers Kamaraj Nagar 1st Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungudi. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be considered for duty calculation.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in property dealings. It is essential for buyers and sellers to understand how this value impacts their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of Kamaraj Nagar 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 173 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1808% over the years.

What is the stamp duty for properties in Kamaraj Nagar 1st Cross Street?

The stamp duty for properties in Kamaraj Nagar 1st Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kamaraj Nagar 1st Cross Street?

The Sub Registrar Office for Kamaraj Nagar 1st Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What other streets have the same guideline value in Perungudi?

Other streets in Perungudi that share the same guideline value of Rs 3,300 per sq.ft include Kamaraj Nagar 1st Street, Kamaraj Nagar 14th Cross Street, Kamaraj Nagar 13th Cross Street, Kamaraj Nagar 2nd Cross Street, Kamaraj Nagar 12th Cross Street, and Kamaraj Nagar 2nd Street.