Guideline Value for KAMARAJ NAGAR 3RD MAIN ROAD

Kamaraj Nagar 3rd Main Road guideline value

The current guideline value of Kamaraj Nagar 3rd Main Road is Rs 12,660 per sq.ft, effective from 1 July 2024. This road is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Kamaraj Nagar 3rd Main Road has changed

The guideline value for Kamaraj Nagar 3rd Main Road has undergone several revisions over the years. In 2002, the value was Rs 1,057 per sq.ft, which increased to Rs 1,170 per sq.ft in 2003. The value saw a significant rise to Rs 1,800 per sq.ft in 2007, followed by a remarkable jump to Rs 11,500 per sq.ft in 2012. However, it dropped to Rs 7,705 per sq.ft in 2017 before climbing back to Rs 11,500 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 12,660 per sq.ft, marking a 10% increase from the previous year.

Looking at the changes between revisions, the value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. The rise from 2007 to 2012 was a staggering 539%, and from 2003 to 2007, it increased by 54%. The value also saw an 11% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1098%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, placing Kamaraj Nagar 3rd Main Road above this median.

• Kamaraj Nagar 3rd East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 2nd West Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 3rd West Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 4th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 4th Main Road: Rs 11,000 per sq.ft (2024)
• Kamaraj Nagar 2nd Main Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 3rd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,660 per sq.ft, the total guideline value amounts to Rs 1,26,60,000. The stamp duty at 7% would be Rs 8,86,200, and the registration fee at 2% would be Rs 2,53,200, bringing the total to Rs 11,39,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kamaraj Nagar 3rd Main Road?

The Kamaraj Nagar 3rd Main Road falls under 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 3rd Main Road?

The current guideline value of Kamaraj Nagar 3rd Main Road is Rs 12,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,057 per sq.ft in 2002 to Rs 12,660 per sq.ft in 2024, reflecting an overall increase of 1098% over this period.

What is the median guideline value for streets in Thiruvanmiyur?

The median guideline value for streets in Thiruvanmiyur is Rs 9,900 per sq.ft, with Kamaraj Nagar 3rd Main Road being above this median.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot on Kamaraj Nagar 3rd Main Road, the total stamp duty and registration fees would amount to Rs 11,39,400 based on the current guideline value.

Which office handles the registration for Kamaraj Nagar 3rd Main Road?

The registration for Kamaraj Nagar 3rd Main Road is handled 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.