Guideline Value for KAMARAJ NAGAR IST WEST STREET

Kamaraj Nagar Ist West Street guideline value

The current guideline value of Kamaraj Nagar Ist 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 Ist West Street has changed

The guideline value for Kamaraj Nagar Ist West Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,262 per sq.ft, which increased to Rs 1,396 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,800 per sq.ft in 2007, reflecting a 29% increase. By 2012, the value was Rs 9,000 per sq.ft, indicating a substantial rise of 400% from the previous figure. However, it dropped to Rs 6,030 per sq.ft in 2017, a decrease of 33%. The value increased again to Rs 9,000 per sq.ft in 2023, and finally reached Rs 9,900 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 684%. The register has no figures for the years not mentioned in this summary.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry 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 equal to the current figure for Kamaraj Nagar Ist West Street.

• Kamaraj Nagar East Avenue: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 9th West Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar North Avenue: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar 9th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar Scheme: Rs 7,150 per sq.ft (2024)
• Kamaraj Nagar 8th West Street: Rs 9,900 per sq.ft (2024)

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

Which Sub Registrar Office covers Kamaraj Nagar Ist West Street?

The Kamaraj Nagar Ist 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 more information.

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

The guideline value is a critical factor in property transactions in Thiruvanmiyur, as it determines 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 sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price is not lower than the guideline value to avoid potential legal issues. The guideline value serves as a benchmark for property transactions, ensuring transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value of Kamaraj Nagar Ist 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, increasing from Rs 1,262 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, which is an overall increase of 684%.

What is the land classification of Kamaraj Nagar Ist West Street?

Kamaraj Nagar Ist West Street is classified as Residential Class I Type - I.

What other streets have the same guideline value in Thiruvanmiyur?

Other streets in Thiruvanmiyur that have the same guideline value of Rs 9,900 per sq.ft include Kamaraj Nagar East Avenue, Kamaraj Nagar 9th West Street, Kamaraj Nagar North Avenue, Kamaraj Nagar 9th East Street, and Kamaraj Nagar 8th West Street.

Where can I find the Sub Registrar Office for Kamaraj Nagar Ist West Street?

The Sub Registrar Office covering Kamaraj Nagar Ist West Street is located in the Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.