Guideline Value for KAMARAJ NAGAR 2ND WEST STREET

Kamaraj Nagar 2nd West Street guideline value

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

The guideline value for Kamaraj Nagar 2nd West Street has seen several revisions over the years. In 2002, the value was Rs 1,262 per sq.ft, which increased to Rs 1,396 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,800 per sq.ft in 2007, reflecting a 29% increase. From 2007 to 2012, the value surged to Rs 9,000 per sq.ft, a remarkable increase of 400%. However, from 2012 to 2017, it dropped to Rs 6,030 per sq.ft, showing a decrease of 33%. The value then climbed to Rs 9,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 9,900 per sq.ft, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 684%. There are no other revisions available in the register for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur village, there are 484 streets under the Chennai South Joint I SRO, with guideline values 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 2nd West Street.

• Kamaraj Nagar 3rd East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 3rd Main Road: Rs 12,660 per sq.ft (2024)
• Kamaraj Nagar 2nd Main Road: Rs 11,000 per sq.ft (2024)
• Kamaraj Nagar 2nd East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 3rd West 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 2nd West 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 cost for these fees to Rs 8,91,000. Duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Kamaraj Nagar 2nd West Street is 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 details.

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

The guideline value is a critical figure used during property registration in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the sale process.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the fees reflect the true value of the property being transferred, safeguarding the interests of both the buyer and the seller.

Frequently asked questions

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

The current guideline value of Kamaraj Nagar 2nd West 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 changed from Rs 1,262 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, showing an overall increase of 684% over this period.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 8,91,000.

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

The Chennai South Joint I Sub Registrar Office covers Kamaraj Nagar 2nd West Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

Where can I find more information about the guideline value?

More information about the guideline value can be found on the Registration Department's guideline value register (TNReginet) or by visiting the official website of the Chennai South Joint I SRO.