Guideline Value for KAMARAJ NAGAR LANE

Kamaraj Nagar Lane guideline value

The current guideline value of Kamaraj Nagar Lane in Padi village, under the Villivakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - III.

How the guideline value of Kamaraj Nagar Lane has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This figure was then reduced to Rs 2,680 per sq.ft in the 2017 revision, reflecting a decline of 33%. However, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 saw a further increase to Rs 4,400 per sq.ft, which is a 10% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft in 2024. The median guideline value for the village is Rs 3,800 per sq.ft, making Kamaraj Nagar Lane's 2024 figure of Rs 4,400 per sq.ft higher than the median.

• Kamaraj Nagar (Padikuppam Main Road): Rs 5,400 per sq.ft (2024)
• Kamaraj Street (S.No.239/1): Rs 2,500 per sq.ft (2024)
• Kambar Street: Rs 3,400 per sq.ft (2024)
• Kalaivanar Nagar 'yesunathar Street': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar "vinayagar Koil Street": Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar "thirumurugan Street": Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar Lane?

The Sub Registrar Office that covers Kamaraj Nagar Lane is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar Lane?

The current guideline value of Kamaraj Nagar Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 4,000 per sq.ft in 2012, dropping to Rs 2,680 per sq.ft in 2017, and then rising to Rs 4,000 per sq.ft in 2023, before reaching Rs 4,400 per sq.ft in 2024.

What is the median guideline value in Padi?

The median guideline value in Padi is Rs 3,800 per sq.ft, with Kamaraj Nagar Lane's current figure above this median.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Kamaraj Nagar Lane is 7%, applied to the higher of the guideline value or the sale price.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.