Guideline Value for KAMARAJ NAGAR SOUTH AVENUE

Kamaraj Nagar South Avenue guideline value

The current guideline value of Kamaraj Nagar South Avenue is Rs 12,660 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Kamaraj Nagar South Avenue has changed

The guideline value for Kamaraj Nagar South Avenue has seen significant changes over the years. In 2002, the guideline value was Rs 1,723 per sq.ft. This increased to Rs 1,906 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose dramatically to Rs 2,200 per sq.ft, a change of 15%. The years that followed showed a substantial increase, with the value reaching Rs 11,500 per sq.ft in 2012, representing a 423% increase from 2007. However, it fell to Rs 7,705 per sq.ft in 2017, a decrease of 33% from the previous figure.

In 2023, the guideline value increased to Rs 11,500 per sq.ft, and in 2024, it rose further to Rs 12,660 per sq.ft, reflecting a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 635%.

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 value for these streets is Rs 9,900 per sq.ft, placing Kamaraj Nagar South Avenue above this median.

• Kamaraj Nagar Scheme: Rs 7,150 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 South Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 12,660 per sq.ft, the total guideline value would be Rs 1,26,60,000. The stamp duty at 7% would amount to Rs 8,86,200, and the registration fee at 2% would be Rs 2,53,200, bringing the total to Rs 11,39,400. It is important to 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 information.

Which Sub Registrar Office covers Kamaraj Nagar South Avenue?

The Kamaraj Nagar South Avenue falls under 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 further assistance.

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

The guideline value is a crucial factor during the registration of properties in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and transparently, reflecting the true value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar South Avenue?

The current guideline value of Kamaraj Nagar South Avenue is Rs 12,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,723 per sq.ft in 2002 to Rs 12,660 per sq.ft in 2024, reflecting an overall increase of 635% over the years.

What is the stamp duty for properties in Kamaraj Nagar South Avenue?

The stamp duty for properties in Kamaraj Nagar South Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kamaraj Nagar South Avenue?

The Sub Registrar Office covering Kamaraj Nagar South Avenue is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the median guideline value in Thiruvanmiyur?

The median guideline value for streets in Thiruvanmiyur is Rs 9,900 per sq.ft, with Kamaraj Nagar South Avenue's value being above this median at Rs 12,660 per sq.ft.