Guideline Value for KAMARAJ NAGAR 8TH STREET

Kamaraj Nagar 8th Street guideline value

The current guideline value of Kamaraj Nagar 8th Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Kamaraj Nagar 8th Street has changed

The guideline value for Kamaraj Nagar 8th Street has seen significant changes over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 2,010 per sq.ft in the 2017 revision, marking a substantial rise of 235%. The 2023 revision set the value at Rs 3,000 per sq.ft, reflecting a 49% increase from the previous revision. The current 2024 revision has further raised the guideline value to Rs 3,200 per sq.ft, which is a 7% increase from 2023.

There are no figures available for the years 2002, 2003, and 2012 in the register for this street.

Guideline values in Perambur

In Perambur, there are 1114 streets under the Purasaivakkam SRO, with guideline values for 2024 ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Kamaraj Nagar 8th Street's current value above the median.

• Kamaraj Nagar 7th 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 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, while the registration fee at 2% would be Rs 64,000, bringing the total fees to Rs 2,88,000. It is important to note that the 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 8th Street?

The Kamaraj Nagar 8th Street is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property registration in Perambur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the transaction is recorded at a value that reflects the official rates set by the government.

When a buyer or seller approaches the registration office, the guideline value is assessed to calculate the applicable fees. This process helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 8th Street?

The current guideline value of Kamaraj Nagar 8th 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, marking an overall increase of 433% over the years.

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

For a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 and the registration fee would be Rs 64,000, totaling Rs 2,88,000.

Which Sub Registrar Office covers Kamaraj Nagar 8th Street?

The Purasaivakkam Sub Registrar Office covers Kamaraj Nagar 8th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Kamaraj Nagar 8th Street?

Kamaraj Nagar 8th Street is classified as Residential Class III Type - I, indicating its suitability for residential development.