Guideline Value for KAMARAJ NAGAR 1ST STREET

Kamaraj Nagar 1st Street guideline value

The current guideline value of Kamaraj Nagar 1st Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class III Type - I land classification.

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

The guideline value for Kamaraj Nagar 1st Street has seen significant changes over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2012 revision, marking a substantial rise of 400%. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The 2023 revision saw the value increase to Rs 3,000 per sq.ft, and the latest revision in 2024 has set it at Rs 3,200 per sq.ft, reflecting a growth of 7% from the previous year.

Overall, the guideline value has increased by 433% from Rs 600 per sq.ft in 2007 to Rs 3,200 per sq.ft in 2024. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Kamaraj Nagar 1st Street's 2024 figure is above this median.

• Kamaraj Nagar 2nd Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 5th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 6th Street: Rs 3,200 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 3,200 per sq.ft, the total guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total cost for these fees to Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details on calculating fees, 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 Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the government's assessment.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

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 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 3,200 per sq.ft in 2024, showing an overall increase of 433%.

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

Kamaraj Nagar 1st Street is classified as Residential Class III Type - I.

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

The Sub Registrar Office covering Kamaraj Nagar 1st Street is the Purasaivakkam SRO, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 at 7%.