Guideline Value for KAMARAJ NAGAR

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the jurisdiction of the Thiruvottiyur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Kamaraj Nagar has changed

The guideline value for Kamaraj Nagar has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 219 per sq.ft. This increased to Rs 257 per sq.ft in 2003, marking a change of +17%. The value saw a significant rise to Rs 500 per sq.ft in 2007, which is a change of +95%. However, the value then dropped to Rs 2,200 per sq.ft in 2012, reflecting a decrease of -33%.

From 2012, the guideline value increased again to Rs 1,474 per sq.ft in 2017, an increase of +49%. The most recent revision prior to the current value was Rs 2,200 per sq.ft in 2023, which then increased to Rs 2,400 per sq.ft in 2024, a change of +9%. Overall, from 2002 to 2024, the guideline value has increased by +996%.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Kamaraj Nagar is below this median.

• Kamala Nagar: Rs 3,300 per sq.ft (2024)
• Kamadevan Nagar: Rs 3,300 per sq.ft (2024)
• Kalyani Chetty Nagar: Rs 3,300 per sq.ft (2024)
• Kambar Street: Rs 3,300 per sq.ft (2024)
• Kanakkar Lane: Rs 3,300 per sq.ft (2024)
• Kalaivanar Nagar: Rs 1,500 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 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total charges Rs 2,16,000. 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 specific calculations.

Which Sub Registrar Office covers Kamaraj Nagar?

The Kamaraj Nagar area falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 219 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of +996%.

What is the median guideline value in Thiruvottiyur?

The median guideline value in Thiruvottiyur is Rs 3,300 per sq.ft for the year 2024.

What are the stamp duty rates for properties in Kamaraj Nagar?

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

Where can I find the Sub Registrar Office for Kamaraj Nagar?

The Sub Registrar Office covering Kamaraj Nagar is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.