Guideline Value for KAMARAJ NAGAR SCHEME

Kamaraj Nagar Scheme guideline value

The current guideline value of Kamaraj Nagar Scheme in Thiruvanmiyur village is Rs 7,150 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Kamaraj Nagar Scheme has changed

The guideline value for Kamaraj Nagar Scheme has seen several revisions over the years. The 2012 revision set the value at Rs 6,500 per sq.ft, which then dropped to Rs 4,355 per sq.ft in the 2017 revision. Following this, the 2023 revision raised the value to Rs 6,500 per sq.ft, and the most recent 2024 revision increased it further to Rs 7,150 per sq.ft.

Between the 2023 and 2024 revisions, there was a 10% increase. From 2017 to 2023, the value rose by 49%, while from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value in this area is Rs 9,900 per sq.ft, making the current guideline value of Kamaraj Nagar Scheme below that median.

• Kamaraj Nagar South Avenue: Rs 12,660 per sq.ft (2024)
• Kamaraj Nagar South Avenue 10th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar South Avenue 12th East Street: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar North Avenue: Rs 9,900 per sq.ft (2024)
• Kamaraj Nagar West Avenue: Rs 9,900 per sq.ft (2024)
• Kamaraj Road / Salai: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar Scheme

For a 1,000 sq.ft plot at the current rate of Rs 7,150 per sq.ft, the guideline value amounts to Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, totaling Rs 6,43,500. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamaraj Nagar Scheme?

The Kamaraj Nagar Scheme 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 crucial factor during property registration in Thiruvanmiyur. It is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership.

When buying or selling property, the guideline value helps determine the legal value of the property, ensuring that the transaction is recorded accurately with the appropriate authorities. This process ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar Scheme?

The current guideline value of Kamaraj Nagar Scheme is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 in 2012 to Rs 4,355 in 2017, then back to Rs 6,500 in 2023, and finally to Rs 7,150 in 2024, reflecting various increases and decreases over the years.

What are the stamp duty and registration fees for Kamaraj Nagar Scheme?

For a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500.

Which office handles registrations for Kamaraj Nagar Scheme?

The Chennai South Joint I Sub Registrar Office handles registrations for Kamaraj Nagar Scheme, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

Where can I find more information about guideline values in Thiruvanmiyur?

You can find more information about guideline values in Thiruvanmiyur by checking the Registration Department's guideline value register or visiting the Chennai South Joint I SRO.