Guideline Value for KAMARAJ STREET

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Vengathur village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar SRO and is classified as Commercial Class I Type - III.

How the guideline value of Kamaraj Street has changed

The guideline value for Kamaraj Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision. However, it then decreased to Rs 871 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 1,300 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been an increase of 767%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Kamaraj Street's 2024 guideline value is above this median.

• Kamaraj Street (Kabilar Nagar): Rs 1,300 per sq.ft (2024)
• K.A.Mathiazhagan Street: Rs 800 per sq.ft (2024)
• Kamban Street: Rs 600 per sq.ft (2024)
• Kannaki Street: Rs 700 per sq.ft (2024)
• Kanniayamman Koil Street: Rs 1,300 per sq.ft (2024)
• Kalaivanar Street: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamaraj Street?

The Kamaraj Street is covered by the Manavalanagar Sub Registrar Office located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is essential for property transactions in Vengathur as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value serves as a reference point for the authorities to assess the appropriate taxes. It is crucial for both parties to be aware of the guideline value to ensure compliance with legal and financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kamaraj Street?

The current guideline value of Kamaraj Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and remained at Rs 1,300 per sq.ft in 2023 and 2024.

What is the land classification for Kamaraj Street?

Kamaraj Street is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

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

Other streets in Vengathur include K.A.Mathiazhagan Street at Rs 800 per sq.ft, Kamban Street at Rs 600 per sq.ft, Kannaki Street at Rs 700 per sq.ft, Kanniayamman Koil Street at Rs 1,300 per sq.ft, and Kalaivanar Street at Rs 500 per sq.ft.

How is stamp duty calculated for properties in Kamaraj Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 1,300 per sq.ft, the total stamp duty and registration fees can be calculated using a specific formula, which can be accessed through the stamp duty and registration fee calculator.