Guideline Value for KAMARAJ NAGAR

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Class I Type - III.

How the guideline value of Kamaraj Nagar has changed

The guideline value for Kamaraj Nagar has seen significant changes over the years. In 2002, the value was Rs 77 per sq.ft, which increased to Rs 90 per sq.ft in 2003. The value then rose dramatically to Rs 500 per sq.ft in 2007, marking an increase of 456%. Following this, the value jumped to Rs 2,500 per sq.ft in 2012, reflecting a 400% increase. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The most recent revisions show that the value was Rs 2,500 per sq.ft in 2023 and has now increased to Rs 2,750 per sq.ft in 2024, representing a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 3471%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Medavakkam

Medavakkam village has a total of 379 streets under the Chennai South Joint I SRO, with guideline values for 2024 ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Kamaraj Nagar's 2024 figure above the median.

• Kamaraj Garden: Rs 2,750 per sq.ft (2024)
• Kamaraj Cross Street: Rs 2,200 per sq.ft (2024)
• Kamaraj Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 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 2,750 per sq.ft, the total guideline value is Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar?

The Sub Registrar Office that covers Kamaraj Nagar is 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 details.

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

The guideline value plays a crucial role in property transactions in Medavakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees. This value is set by the government and is intended to reflect the market conditions for various areas.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions. It is essential for both buyers and sellers to be aware of the guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar is Rs 2,750 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 77 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 3471% over the years.

What is the registration office for Kamaraj Nagar?

The registration office for Kamaraj Nagar is 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.

What are the stamp duty and registration fees for a property in Kamaraj Nagar?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 27,50,000. The stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where can I find more information about the guideline values in Medavakkam?

For more information about guideline values in Medavakkam, you can refer to the respective links for other streets and their current rates or consult the registration department's guideline value register.