Guideline Value for KAMARAJ NAGAR 23RD EAST STREET

Kamaraj Nagar 23rd East Street guideline value

The current guideline value of Kamaraj Nagar 23rd East Street is Rs 9,900 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 Class I Type - I.

How the guideline value of Kamaraj Nagar 23rd East Street has changed

The guideline value for Kamaraj Nagar 23rd East Street has seen significant changes over the years. In 2002, the value was Rs 837 per sq.ft, which increased to Rs 926 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,300 per sq.ft in 2007, representing a 40% increase. A substantial jump occurred in 2012 when the value reached Rs 9,000 per sq.ft, a rise of 592%. However, from 2012 to 2017, the value decreased to Rs 6,030 per sq.ft, indicating a decline of 33%. The value then increased to Rs 9,000 per sq.ft in 2023, with a 49% rise, before reaching the current value of Rs 9,900 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that there are no figures available for the revisions in years other than those specified. The overall change from 2002 to 2024 shows an increase of 1083% in the guideline value.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value is Rs 9,900 per sq.ft, which is equal to the current value for Kamaraj Nagar 23rd East Street.

• Kamaraj Nagar 22nd East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 24th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 21st East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 25th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 20th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 26th East Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 23rd East Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. 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 23rd East Street?

Kamaraj Nagar 23rd 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 more information.

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

The guideline value is a crucial factor when registering property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the applicable taxes, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 23rd East Street?

The current guideline value of Kamaraj Nagar 23rd East Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 837 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, showing an overall increase of 1083% over this period.

What is the land classification for Kamaraj Nagar 23rd East Street?

The land classification for Kamaraj Nagar 23rd East Street is Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Kamaraj Nagar 23rd East Street?

The Sub Registrar Office covering Kamaraj Nagar 23rd 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 this area?

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 99,00,000, the stamp duty would be Rs 6,93,000 at a rate of 7%.