Guideline Value for KAMARAJ NAGAR 5TH STREET

Kamaraj Nagar 5th Street guideline value

The current guideline value of Kamaraj Nagar 5th Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kamaraj Nagar 5th Street has changed

The guideline value for Kamaraj Nagar 5th Street has experienced several revisions over the years. The earliest recorded value was Rs 600 per sq.ft in 2007. This increased significantly to Rs 3,000 per sq.ft in 2012, followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,200 per sq.ft as of the 2024 revision.

Between the revisions, the changes were notable. From 2007 to 2012, there was a remarkable increase of 400%. However, from 2012 to 2017, the value decreased by 33%. The value then surged by 49% from 2017 to 2023. Finally, from 2023 to 2024, there was an increase of 7%. Overall, from 2007 to 2024, the guideline value has increased by 433%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Kamaraj Nagar 5th Street's 2024 figure above this median.

• Kamaraj Nagar 6th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 7th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 8th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value would be Rs 32,00,000. The stamp duty at 7% would amount to Rs 2,24,000, and the registration fee at 2% would be Rs 64,000. Together, the total cost for these fees would be Rs 2,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kamaraj Nagar 5th Street?

The Sub Registrar Office covering Kamaraj Nagar 5th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Perambur, this value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. The value is regularly updated, reflecting changes in the real estate market and land classification.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 5th Street?

The current guideline value of Kamaraj Nagar 5th Street is Rs 3,200 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 600 per sq.ft in 2007 to Rs 3,200 per sq.ft in 2024, reflecting an overall increase of 433% over the years.

What are the stamp duty rates for property in Kamaraj Nagar 5th Street?

The stamp duty for property transactions in Kamaraj Nagar 5th Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kamaraj Nagar 5th Street?

The Sub Registrar Office for Kamaraj Nagar 5th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Kamaraj Nagar 5th Street?

The land classification for Kamaraj Nagar 5th Street is Residential Class III Type - I, indicating its suitability for residential purposes.