Guideline Value for KAMARAJ NAGAR 6TH CROSS STREET

Kamaraj Nagar 6th Cross Street guideline value

The current guideline value of Kamaraj Nagar 6th Cross 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 6th Cross Street has changed

The guideline value for Kamaraj Nagar 6th Cross Street has undergone several revisions over the years. The earliest recorded figure is Rs 173 per sq.ft in 2002, which increased to Rs 250 per sq.ft in 2003, marking a change of +45%. In 2007, the value rose significantly to Rs 600 per sq.ft, reflecting an increase of +140%. The value remained at Rs 3,000 per sq.ft in 2012, showing a decrease of -33% from the previous revision. The guideline value then increased to Rs 2,010 per sq.ft in 2017, which was a +49% change. The value saw another rise to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, representing a +10% increase.

There are no figures available for revisions in the years not mentioned in the register. The overall change from 2002 to 2024 is +1808%, highlighting the significant increase in the guideline value over the years.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry 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 equal to the current rate for Kamaraj Nagar 6th Cross Street.

• Kamaraj Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 6th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamaraj Nagar 6th Cross Street?

The Kamaraj Nagar 6th Cross Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties, which are based on either 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 6th Cross Street?

The current guideline value of Kamaraj Nagar 6th Cross 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 seen several changes, starting from Rs 173 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +1808% over the years.

What is the land classification for Kamaraj Nagar 6th Cross Street?

The land classification for Kamaraj Nagar 6th Cross Street is Residential Class II Type - II, indicating its designation for residential use.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is 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 6th Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000 at a rate of 7%.