Guideline Value for KAMARAJ STREET (NEAR POST OFFICE)

Kamaraj Street (Near Post Office) guideline value

The current guideline value of Kamaraj Street (Near Post Office) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO and is classified as Residential Class I Type - I.

How the guideline value of Kamaraj Street (Near Post Office) has changed

The guideline value for Kamaraj Street (Near Post Office) has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, reflecting a 33% drop. The value rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam village, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Kamaraj Street (Near Post Office) is above this median with its current value of Rs 4,400 per sq.ft.

• Kamaraj Street (Near V.P.G.): Rs 2,200 per sq.ft (2024)
• Kamaraj Salai: Rs 5,500 per sq.ft (2024)
• Kamarajar Street (Near Industrial Estate Road/Egret): Rs 5,500 per sq.ft (2024)
• KAMARAJAR STREET (10ft ROAD): Rs 2,200 per sq.ft (2024)
• Kanakavalli Avenue: Rs 1,100 per sq.ft (2024)
• Karunanithi Cholan Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Street (Near Post Office)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. 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 Street (Near Post Office)?

The Sub Registrar Office that covers Kamaraj Street (Near Post Office) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Kamaraj Street (Near Post Office)?

The current guideline value of Kamaraj Street (Near Post Office) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 450% across the years.

What are the stamp duty and registration fees for property in Kamaraj Street (Near Post Office)?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, leading to a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Kamaraj Street (Near Post Office)?

The Neelankarai Sub Registrar Office covers Kamaraj Street (Near Post Office), located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification for Kamaraj Street (Near Post Office)?

Kamaraj Street (Near Post Office) is classified as Residential Class I Type - I under the Neelankarai SRO.