Guideline Value for KAMARAJ NAGAR

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar in Palavedu village, under the Avadi SRO, is Rs 440 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kamaraj Nagar has changed

The guideline value for Kamaraj Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 400 per sq.ft in the 2023 revision, and currently stands at Rs 440 per sq.ft as per the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Palavedu

In Palavedu, there are 18 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 290 to Rs 1,100 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which is equal to the current guideline value of Kamaraj Nagar.

• Karnan Nagar: Rs 440 per sq.ft (2024)
• Jasmine Nagar-II: Rs 440 per sq.ft (2024)
• Jasmine Nagar: Rs 440 per sq.ft (2024)
• Iyyappan Nagar: Rs 440 per sq.ft (2024)
• Eswaran Koil Street: Rs 440 per sq.ft (2024)
• Muthamizh Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Kamaraj Nagar?

The Sub Registrar Office that covers Kamaraj Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Palavedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the sale price is not undervalued.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and is now Rs 440 per sq.ft in 2024.

What are the other streets with the same guideline value in Palavedu?

Other streets in Palavedu with the same guideline value of Rs 440 per sq.ft include Karnan Nagar, Jasmine Nagar-II, Jasmine Nagar, Iyyappan Nagar, Eswaran Koil Street, and Muthamizh Nagar.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Kamaraj Nagar?

Stamp duty for properties in Kamaraj Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800.