Guideline Value for KAMARAJ NAGAR 7TH STREET

Kamaraj Nagar 7th Street guideline value

The current guideline value of Kamaraj Nagar 7th Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kamaraj Nagar 7th Street has changed

The guideline value for Kamaraj Nagar 7th Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then dropped to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,200 per sq.ft as of 2024. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was a substantial 400%. 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 a 2024 guideline value 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 7th Street above this median.

• Kamaraj Nagar 8th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 6th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 5th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 3rd 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 7th 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, bringing the total to Rs 2,88,000. It is important to note that 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 details.

Which Sub Registrar Office covers Kamaraj Nagar 7th Street?

The Sub Registrar Office that covers Kamaraj Nagar 7th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the transaction is compliant with local regulations.

Frequently asked questions

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

The current guideline value of Kamaraj Nagar 7th 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 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 is the classification of Kamaraj Nagar 7th Street?

Kamaraj Nagar 7th Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value or sale price.

Where is the Sub Registrar Office for Kamaraj Nagar 7th Street located?

The Sub Registrar Office for Kamaraj Nagar 7th Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.