Guideline Value for KAMARAJ NAGAR

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Vichoor_B village, under the Thiruvottiyur SRO, and 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 undergone several revisions over the years. The earliest recorded revision was in 2017, where the value was Rs 268 per sq.ft. This increased to Rs 400 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 set the guideline value at Rs 440 per sq.ft, reflecting a further increase of 10% from the previous year.

Overall, the guideline value has increased by 64% from the 2017 revision to the 2024 revision. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vichoor_B

In Vichoor_B village, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft, with the median being Rs 485 per sq.ft. Kamaraj Nagar's 2024 figure is below this median.

• Jovan Nagar: Rs 485 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 485 per sq.ft (2024)
• Jagan Nagar Ext: Rs 485 per sq.ft (2024)
• Jagan Nagar: Rs 485 per sq.ft (2024)
• Kolaviziamman Nagar: Rs 330 per sq.ft (2024)
• I.J Puram: Rs 485 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total cost for these fees Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vichoor_B. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the correct amounts are paid based on the official valuation.

When a property is sold, the guideline value serves as a benchmark for the transaction, helping to standardize the costs associated with property transfers. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies 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 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in 2024. This represents a total increase of 64% from the 2017 revision to the 2024 revision.

What is the land classification of Kamaraj Nagar?

Kamaraj Nagar falls under the Residential Class I Type - II land classification. This classification is important for understanding the intended use of the land.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. This office handles the registration of properties in the Kamaraj Nagar area.

How is the stamp duty calculated for properties in Kamaraj Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft would incur a stamp duty of Rs 30,800.