Guideline Value for KAMARAJ NAGAR 2ND CROSS STREET

Kamaraj Nagar 2nd Cross Street guideline value

The current guideline value of Kamaraj Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kamaraj Nagar 2nd Cross Street has changed

The guideline value for Kamaraj Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded value was Rs 173 per sq.ft in 2002, which increased to Rs 250 per sq.ft in 2003, marking a 45% rise. Following this, the value rose significantly to Rs 600 per sq.ft in 2007, reflecting a 140% increase. The value then jumped to Rs 3,000 per sq.ft in 2012, representing a substantial 400% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, and as of the latest revision in 2024, it stands at Rs 3,300 per sq.ft, 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 the years not listed in the register for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the current guideline value for Kamaraj Nagar 2nd Cross Street.

• Kamaraj Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamaraj Nagar 2nd Cross Street?

The Kamaraj Nagar 2nd Cross 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 information.

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

The guideline value is a critical factor during the registration of property transactions in Perungudi. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on the official valuation rather than the sale price alone.

When buying or selling property, the guideline value helps in determining the legal obligations related to the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 2nd Cross Street?

The current guideline value of Kamaraj Nagar 2nd Cross 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 increased from Rs 173 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,808% over the years.

What is the stamp duty rate for properties in Kamaraj Nagar 2nd Cross Street?

The stamp duty rate for properties in Kamaraj Nagar 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value for streets in Perungudi?

The median guideline value for streets in Perungudi is Rs 3,300 per sq.ft, which is the same as the current guideline value for Kamaraj Nagar 2nd Cross Street.