Guideline Value for KAMARAJ NAGAR

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar, located in Karapakkam village under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

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 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and finally, it has risen to Rs 1,100 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 reflects a 10% increase, indicating a gradual adjustment in the guideline value over the years.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, and Kamaraj Nagar's 2024 figure is below this median.

• Kalyani Narayanan Garden: Rs 1,100 per sq.ft (2024)
• Kambar Street: Rs 1,700 per sq.ft (2024)
• Kaliangar Karunanidhi Street: Rs 2,200 per sq.ft (2024)
• Kaliamman Koil Street: Rs 1,700 per sq.ft (2024)
• KALIAMMAN KOIL 8th CROSS STREET: Rs 1,700 per sq.ft (2024)
• KALIAMMAN KOIL 7th STREET 3rd CROSS: 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, 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 Karapakkam

The guideline value plays a crucial role in the registration process of property transactions in Karapakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is sold or purchased.

When buyers and sellers engage in a property transaction, the guideline value is referenced to ensure that the correct fees are calculated. This ensures transparency and compliance with local regulations 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 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Kamaraj Nagar?

Kamaraj Nagar is classified as Residential Class III Type - I, indicating its use for residential purposes.

What are the other streets in Karapakkam with their guideline values?

There are several other streets in Karapakkam, such as Kalyani Narayanan Garden, Kambar Street, and Kaliangar Karunanidhi Street, each having different guideline values ranging from Rs 1,100 to Rs 2,200 per sq.ft in 2024.

Where can I find the Neelankarai Sub Registrar Office?

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