Guideline Value for KAMARAJ NAGAR MAIN ROAD

Kamaraj Nagar Main Road guideline value

The current guideline value of Kamaraj Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Kamaraj Nagar Main Road has changed

The guideline value for Kamaraj Nagar Main Road has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 173 per sq.ft. This increased to Rs 250 per sq.ft in 2003, marking a 45% rise. The value continued to rise significantly, reaching Rs 600 per sq.ft in 2007, which was a 140% increase from the previous figure. In 2012, the value was Rs 3,000 per sq.ft, a decrease of 33% from 2007. The guideline value then saw a rise to Rs 2,010 per sq.ft in 2017, which was a 49% increase from the 2012 revision. The most recent revision in 2023 set the value at Rs 3,000 per sq.ft, leading to a 10% increase to the current value of Rs 3,300 per sq.ft in 2024.

There are no figures available for the revisions in years that are not listed. The overall increase from 2002 to 2024 is 1,808%.

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 value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Kamaraj Nagar Main Road.

• Kamaraj Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar Main Road

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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 details.

Which Sub Registrar Office covers Kamaraj Nagar Main Road?

The Sub Registrar Office that covers Kamaraj Nagar Main Road is 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 is a crucial factor when buying or selling property in Perungudi. It determines the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly. Buyers and sellers must consider this value when negotiating sale prices, as registration fees and stamp duties are calculated based on it.

When a property is sold, the guideline value is used to assess the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, which is vital for maintaining public services and infrastructure.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar Main Road?

The current guideline value of Kamaraj Nagar Main Road 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 1,808% over this period.

What are the registration fees for properties in Kamaraj Nagar Main Road?

The registration fees for properties are calculated based on the guideline value. For example, a property valued at Rs 33,00,000 would incur a registration fee of Rs 66,000 at 2%.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating stamp duties and registration fees during property transactions.