Guideline Value for KAMARAJ NAGAR

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar, located in Perambur village under the Purasaivakkam SRO, is Rs 3,200 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 of Kamaraj Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 420 per sq.ft. This increased to Rs 461 per sq.ft in 2003, marking a 10% rise. The value then rose by 30% to Rs 600 per sq.ft in 2007. Following this, there was a substantial increase of 400%, bringing the guideline value to Rs 3,000 per sq.ft in 2012. However, the value decreased by 33% to Rs 2,010 per sq.ft in 2017. The 2023 revision saw the value rise to Rs 3,000 per sq.ft, and the most recent 2024 revision has set it at Rs 3,200 per sq.ft, reflecting a 7% increase.

Overall, from 2002 to 2024, the guideline value has increased by 662%. It is important to note that there are no figures available for this street in the revisions for the years not listed.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Kamaraj Nagar's current guideline value is above this median.

• Kamaraj Nagar 1st Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 5th Street: Rs 3,200 per sq.ft (2024)
• Kamaraj Nagar 6th Street: Rs 3,200 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 3,200 per sq.ft, the total guideline value amounts to Rs 32,00,000. The stamp duty, charged at 7%, would be Rs 2,24,000, and the registration fee, at 2%, would be Rs 64,000. Together, the total cost for stamp duty and registration would be Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamaraj Nagar?

Kamaraj Nagar falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate fees based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar is Rs 3,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 420 per sq.ft in 2002 to Rs 3,200 per sq.ft in 2024, which is an overall increase of 662%.

What is the land classification of Kamaraj Nagar?

Kamaraj Nagar is classified as Residential Class III Type - I.

What is the stamp duty rate in Kamaraj Nagar?

The stamp duty rate in Kamaraj Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kamaraj Nagar located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.