Guideline Value for KAMARAJ NAGAR,RAJIV GANDHI STREET

Kamaraj Nagar,Rajiv Gandhi Street guideline value

The current guideline value for Kamaraj Nagar, Rajiv Gandhi Street is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kamaraj Nagar,Rajiv Gandhi Street has changed

The guideline value for Kamaraj Nagar, Rajiv Gandhi Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,800 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 1,876 per sq.ft. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, and then to Rs 3,080 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in the village is Rs 2,530 per sq.ft, placing Kamaraj Nagar, Rajiv Gandhi Street's 2024 figure above this median.

• Kamaraj Nagar: Rs 3,080 per sq.ft (2024)
• Kambar Street: Rs 1,980 per sq.ft (2024)
• Kalaivani Street: Rs 2,200 per sq.ft (2024)
• Kalaivani 1st To 3rdcross Street: Rs 1,980 per sq.ft (2024)
• Kasi Visalakshipuram: Rs 2,530 per sq.ft (2024)
• Kasi Visalatchi Puram: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar,Rajiv Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value amounts to Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, bringing the total fees together to Rs 2,77,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar,Rajiv Gandhi Street?

The Sub Registrar Office covering Kamaraj Nagar, Rajiv Gandhi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during the registration process of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This value is crucial for both the buyer and seller to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Kamaraj Nagar, Rajiv Gandhi Street?

The current guideline value for Kamaraj Nagar, Rajiv Gandhi Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, and then increased to Rs 2,800 per sq.ft in 2023, finally reaching Rs 3,080 per sq.ft in 2024.

What is the median guideline value in Kilkattalai?

The median guideline value in Kilkattalai is Rs 2,530 per sq.ft, which is lower than the current value for Kamaraj Nagar, Rajiv Gandhi Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 30,80,000, the stamp duty would be Rs 2,15,600 and the registration fee would be Rs 61,600, totaling Rs 2,77,200. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kamaraj Nagar, Rajiv Gandhi Street?

The Sub Registrar Office for Kamaraj Nagar, Rajiv Gandhi Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find your SRO online for more information.