Guideline Value for KAMARAJ STREET

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Chemmancheri village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class I Type - II.

How the guideline value of Kamaraj Street has changed

The guideline value for Kamaraj Street has undergone several revisions over the years. In 2003, the guideline value was Rs 91 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007, marking a rise of 230%. The value saw a dramatic increase to Rs 3,000 per sq.ft in 2012, a rise of 900%. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a drop of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, an increase of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 3,526%. It is important to note that there is no figure available for Kamaraj Street in the 2002 revision.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,700 per sq.ft, positioning Kamaraj Street's value above this median.

• Kamatchi Nagar/Sri Kamatchi Nagar: Rs 1,800 per sq.ft (2024)
• Kamaraj Nagar: Rs 3,300 per sq.ft (2024)
• Kalaingar Karunanidhi Street: Rs 2,800 per sq.ft (2024)
• Karim Garden: Rs 3,300 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• Karpaga Vinayagar Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 detailed calculations.

Which Sub Registrar Office covers Kamaraj Street?

The Kamaraj Street falls under the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, 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 Chemmancheri

The guideline value is a crucial factor in property transactions in Chemmancheri, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer and seller must provide the guideline value to the registration office. This value is essential for assessing the financial obligations associated with the transaction, including any applicable taxes and fees.

Frequently asked questions

What is the current guideline value of Kamaraj Street?

The current guideline value of Kamaraj Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 91 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, an overall increase of 3,526%.

What is the land classification of Kamaraj Street?

Kamaraj Street is classified as Residential Class I Type - II.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the 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 example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.