Guideline Value for KAMARAJ NAGAR 4TH STREET

Kamaraj Nagar 4th Street guideline value

The current guideline value of Kamaraj Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kamaraj Nagar 4th Street has changed

The guideline value for Kamaraj Nagar 4th Street has undergone several revisions since 2002. The register shows the following figures: in 2002, the value was Rs 173 per sq.ft, which increased to Rs 250 per sq.ft in 2003. By 2007, the value had risen significantly to Rs 600 per sq.ft, followed by a jump to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in the 2024 revision.

The changes between these revisions are notable. From 2002 to 2003, there was an increase of 45%. The value surged by 140% from 2003 to 2007. A significant increase of 400% was observed from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,808%.

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 for these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Kamaraj Nagar 4th Street.

• Kamaraj Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 4th 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. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kamaraj Nagar 4th Street?

The Kamaraj Nagar 4th 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 a crucial factor during property transactions in 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 when negotiating sale prices to ensure compliance with legal requirements.

When registering a property, 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 the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 4th Street?

The current guideline value of Kamaraj Nagar 4th 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 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 guideline value for Kamaraj Nagar 4th Street.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for Kamaraj Nagar 4th Street?

The Sub Registrar Office covering Kamaraj Nagar 4th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.