Guideline Value for KAMARAJ NAGAR 1ST MAIN ROAD

Kamaraj Nagar 1st Main Road guideline value

The current guideline value of Kamaraj Nagar 1st Main Road 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 Main Road has changed

The guideline value for Kamaraj Nagar 1st Main Road has seen significant changes over the years. In 2002, the guideline value was Rs 1,563 per sq.ft. This increased to Rs 1,729 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 2,200 per sq.ft in 2007, which was a 27% increase from the previous revision. Following this, the value surged to Rs 10,000 per sq.ft in 2012, reflecting a remarkable increase of 355% from 2007.

From 2012 to 2017, however, the guideline value dropped to Rs 6,700 per sq.ft, indicating a decrease of 33%. The value then climbed back to Rs 10,000 per sq.ft in 2023, before reaching the current value 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 604%.

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, with a median value of Rs 9,900 per sq.ft. The guideline value of Kamaraj Nagar 1st Main Road is above this median.

• Kamaraj Nagar 1st East Street: 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, while the registration fee at 2% would amount to Rs 2,20,000. Therefore, the total cost for stamp duty and registration fees would be Rs 9,90,000. Please note that the 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 Main Road?

The Kamaraj Nagar 1st Main Road 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 more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. 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 Main Road?

The current guideline value of Kamaraj Nagar 1st Main Road 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, increasing from Rs 1,563 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, which is an overall increase of 604% over this period.

What are the other streets in Thiruvanmiyur with their guideline values?

Other streets in Thiruvanmiyur include Kamaraj Nagar 1st East Street at Rs 11,000 per sq.ft, and Kamaraj Nagar 19th East Street, 18th East Street, 18th Cross Street, 17th East Street, and 17th Cross Street, all at Rs 9,900 per sq.ft.

What is the registration fee for property transactions in Kamaraj Nagar 1st Main Road?

The registration fee is calculated based on the guideline value. For example, for a property valued at Rs 1,10,00,000, the registration fee would be Rs 2,20,000 at a rate of 2%.

Where is the Sub Registrar Office located for Kamaraj Nagar 1st Main Road?

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