Guideline Value for KAMARAJ NAGAR 6TH WEST STREET

Kamaraj Nagar 6th West Street guideline value

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

Over the years, the guideline value of Kamaraj Nagar 6th West Street has seen significant changes. The earliest recorded figure is from 2002, with a guideline value of Rs 856 per sq.ft. This value increased to Rs 947 per sq.ft in 2003, marking an 11% rise. The subsequent revision in 2007 saw a substantial increase to Rs 1,800 per sq.ft, which is a 90% change. By 2012, the guideline value was Rs 9,000 per sq.ft, reflecting a remarkable 400% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 6,030 per sq.ft, a drop of 33%. However, the value rebounded to Rs 9,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 9,900 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,057%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value 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 the same as the current value for Kamaraj Nagar 6th West Street.

• Kamaraj Nagar 7th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 6th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 5th West Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 7th West Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 8th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 5th Main Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 6th 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 would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, while the registration fee at 2% would be Rs 1,98,000. Together, the total cost for stamp duty and registration would be Rs 8,91,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

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

Kamaraj Nagar 6th West Street is covered 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. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Thiruvanmiyur. 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, as the registration fees and stamp duties are calculated based on the guideline value or the actual sale price, whichever is higher.

When a property is sold, the guideline value ensures that the government receives appropriate revenue through stamp duty and registration fees. It also helps maintain transparency in property transactions, preventing undervaluation and ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 6th West Street?

The current guideline value of Kamaraj Nagar 6th 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 significantly from Rs 856 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 1,057% over this period.

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

For a property valued at the current guideline value of Rs 9,900 per sq.ft, the total stamp duty and registration fees would amount to Rs 8,91,000 for a 1,000 sq.ft plot.

Which office handles registrations for Kamaraj Nagar 6th West Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Kamaraj Nagar 6th West Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the significance of the guideline value in property transactions?

The guideline value is essential as it determines the minimum registration value for properties, affecting the calculation of stamp duty and registration fees. It ensures transparency and compliance in property transactions within Thiruvanmiyur.