Guideline Value for KAMARAJ NAGAR

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar, located in Chemmancheri village under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Kamaraj Nagar has changed

The guideline value for Kamaraj Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 102 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. The value then rose dramatically to Rs 3,000 per sq.ft in 2012, before decreasing to Rs 2,010 per sq.ft in 2017. The value further increased to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. Notably, there is no figure available for the year 2002 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 10%. The most significant change occurred from 2007 to 2012, with a remarkable increase of 900%. Overall, from 2003 to 2024, the guideline value has increased by 3135%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. Kamaraj Nagar's current guideline value is above this median.

• Kamaraj Street: Rs 3,300 per sq.ft (2024)
• Kamatchi Nagar/Sri Kamatchi Nagar: Rs 1,800 per sq.ft (2024)
• Kalaingar Karunanidhi Street: Rs 2,800 per sq.ft (2024)
• Kailash Garden: Rs 3,300 per sq.ft (2024)
• Karim Garden: Rs 3,300 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 1,700 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar?

The Kamaraj Nagar area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. The registration office uses this value to calculate the necessary fees, ensuring that all transactions comply with state regulations.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar is Rs 3,300 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 102 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 3135% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Kamaraj Nagar?

The Neelankarai Sub Registrar Office covers Kamaraj Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Kamaraj Nagar?

Kamaraj Nagar falls under the Residential Class I Type - II land classification, which is important for understanding the zoning regulations in the area.