Guideline Value for KAMARAJ NAGAR 7TH CROSS STREET

Kamaraj Nagar 7th Cross Street guideline value

The current guideline value of Kamaraj Nagar 7th 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 7th Cross Street has changed

The guideline value for Kamaraj Nagar 7th Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 173 per sq.ft, which increased to Rs 250 per sq.ft in 2003. The following revisions saw significant changes, with the value rising to Rs 600 per sq.ft in 2007, then to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017 before climbing to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +45%. The value surged by +140% from 2003 to 2007, followed by a massive +400% increase from 2007 to 2012. The value then decreased by -33% from 2012 to 2017, and it increased by +49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a +10% increase. Overall, from 2002 to 2024, the guideline value has increased by +1808%.

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 is Rs 3,300 per sq.ft, which is equal to the current value of Kamaraj Nagar 7th Cross Street.

• Kamaraj Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 9th 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)

Stamp duty and registration fee for property in Kamaraj Nagar 7th 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 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, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or 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 7th Cross Street?

The Kamaraj Nagar 7th 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 plays a crucial role in the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is recorded at a value that reflects the market conditions as assessed by the government.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 7th Cross Street?

The current guideline value of Kamaraj Nagar 7th 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 changed significantly 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 registration office for Kamaraj Nagar 7th Cross Street?

The Neelankarai Sub Registrar Office covers Kamaraj Nagar 7th Cross Street, 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 7th Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

What are the other streets in Perungudi with the same guideline value?

Other streets in Perungudi with the same guideline value of Rs 3,300 per sq.ft include Kamaraj Nagar 6th Cross Street, Kamaraj Nagar 8th Cross Street, Kamaraj Nagar 5th Street, Kamaraj Nagar 9th Cross Street, Kamaraj Nagar 5th Cross Street, and Kamaraj Nagar 4th Street.