Guideline Value for KAMARAJ NAGAR 1ST STREET

Kamaraj Nagar 1st Street guideline value

The current guideline value of Kamaraj Nagar 1st 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 Street has changed

The guideline value for Kamaraj Nagar 1st 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 rise of 45%. The value then rose significantly to Rs 600 per sq.ft in 2007, an increase of 140%. In 2012, the value was Rs 3,000 per sq.ft, reflecting a substantial increase of 400% from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 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 1,808%. There are no figures available for any other revisions for this street in the register.

Guideline values in Perungudi

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

• Kamaraj Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 13th Cross Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kamaraj Nagar 1st Street?

The Kamaraj Nagar 1st Street is covered by 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 details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Perungudi. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in property transactions.

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 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 1,808% over this period.

What are the stamp duty and registration fees for properties in Kamaraj Nagar 1st Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Kamaraj Nagar 1st Street?

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

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

The land classification for Kamaraj Nagar 1st Street is Residential Class II Type - II, indicating its designation for residential use.