Guideline Value for KAMARAJ NAGAR 2ND STREET

Kamaraj Nagar 2nd Street guideline value

The current guideline value of Kamaraj Nagar 2nd 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 Street has changed

The guideline value for Kamaraj Nagar 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 173 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a 45% increase. By 2007, the value surged to Rs 600 per sq.ft, reflecting a substantial 140% rise. The value then experienced a remarkable increase to Rs 3,000 per sq.ft in 2012, a 400% jump. However, it dropped to Rs 2,010 per sq.ft in 2017, which was a decrease of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by an impressive 1,808%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, which is equal to the current value of Kamaraj Nagar 2nd Street.

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

Stamp duty and registration fee for property in Kamaraj Nagar 2nd 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, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamaraj Nagar 2nd Street?

The Kamaraj Nagar 2nd Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in property transactions within Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Kamaraj Nagar 2nd 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 significantly 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 the years.

What is the registration office for Kamaraj Nagar 2nd Street?

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

How is stamp duty calculated for properties in Kamaraj Nagar 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is an additional 2% of the guideline value.

What are the guideline values of other streets in Perungudi?

Other streets in Perungudi, such as Kamaraj Nagar 1st Street, Kamaraj Nagar 2nd Cross Street, and others, also have a guideline value of Rs 3,300 per sq.ft as of 2024.