Guideline Value for KAMARAJ NAGAR 1ST EAST STREET

Kamaraj Nagar 1st East Street guideline value

The current guideline value of Kamaraj Nagar 1st East Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - II.

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

The guideline value for Kamaraj Nagar 1st East Street has seen significant changes over the years. In 2002, the value was Rs 1,137 per sq.ft. This increased to Rs 1,258 per sq.ft in 2003, marking an increase of 11%. The value then rose substantially to Rs 1,800 per sq.ft in 2007, reflecting a 43% increase. Following this, the value surged to Rs 10,000 per sq.ft in 2012, which was a remarkable increase of 456%. However, it decreased to Rs 6,700 per sq.ft in 2017, showing a decline of 33%. The value then climbed to Rs 10,000 per sq.ft in 2023, before reaching the current figure of Rs 11,000 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 867%. The register has no figure for the years not mentioned in the revisions above.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, placing Kamaraj Nagar 1st East Street's 2024 figure above this median.

• Kamaraj Nagar 1st Main Road: Rs 11,000 per sq.ft (2024)
• Kamaraj Nagar 19th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 18th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 18th Cross Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 17th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 17th Cross Street: Rs 9,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees to Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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

Kamaraj Nagar 1st East Street is covered by 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 additional 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 a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation set by the authorities.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. 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 1st East Street?

The current guideline value of Kamaraj Nagar 1st East Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting at Rs 1,137 per sq.ft in 2002 and reaching Rs 11,000 per sq.ft in 2024. The most notable increases occurred between 2007 and 2012, and again from 2017 to 2024.

What is the land classification for Kamaraj Nagar 1st East Street?

The land classification for Kamaraj Nagar 1st East Street is Residential Special Type - II. This classification is important for understanding the zoning and usage of the land.

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

The Sub Registrar Office covering Kamaraj Nagar 1st East Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Kamaraj Nagar 1st East Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,10,00,000, the stamp duty at 7% would be Rs 7,70,000.