Guideline Value for KAMARAJ NAGAR 1ST STREET

Kamaraj Nagar 1st Street guideline value

The current guideline value of Kamaraj Nagar 1st Street is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Kamaraj Nagar 1st Street has seen several revisions over the years. In 2007, the value was set at Rs 1,500 per sq.ft, which increased significantly to Rs 4,900 per sq.ft in 2012, marking a rise of 227%. However, from 2012 to 2017, the value dropped to Rs 3,283 per sq.ft, a decrease of 33%. The value then rose to Rs 4,900 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 5,300 per sq.ft, reflecting an increase of 8% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 253%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in this area is Rs 5,800 per sq.ft, which means Kamaraj Nagar 1st Street's 2024 figure is below that median.

• Kamaraj Nagar 2nd Street: Rs 5,300 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 5,300 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 5,300 per sq.ft (2024)
• Kamaraj Colony 9th Street: Rs 4,400 per sq.ft (2024)
• Kamaraj Colony 8th Street: Rs 4,400 per sq.ft (2024)
• Kamaraj Colony 7th Street: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, bringing the total fees to Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar 1st Street?

The Kamaraj Nagar 1st Street falls under the jurisdiction of the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of a property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Kamaraj Nagar 1st Street is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent increase of 8% from Rs 4,900 per sq.ft in 2023 to Rs 5,300 per sq.ft in 2024. The overall increase from 2007 to 2024 is 253%.

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

Kamaraj Nagar 1st Street is classified as Residential Class II Type - I. This classification is important for determining the usage and regulations applicable to the property.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office handles the registration of properties in the area.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 53,00,000 would incur a stamp duty of Rs 3,71,000 at 7%.