Guideline Value for KAMARAJ STREET

Kamaraj Street guideline value

The current guideline value of Kamaraj Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kamaraj Street has changed

The guideline value for Kamaraj Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,100 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 264% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and most recently to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Kamaraj Street. Overall, from 2007 to 2024, the guideline value has increased by 300%, reaching its current rate of Rs 4,400 per sq.ft.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Kamaraj Street's 2024 guideline value below this median.

• Kanagammal Lane: Rs 4,400 per sq.ft (2024)
• Kancheepuram Munuswamy Maistry Street: Rs 5,500 per sq.ft (2024)
• Kandappa Achary Street: Rs 6,500 per sq.ft (2024)
• Kandappa Gramani Street: Rs 4,900 per sq.ft (2024)
• Kandappa Mudali High Road (A) Thana Street: Rs 9,900 per sq.ft (2024)
• Kandaswamy Koil Street: Rs 6,000 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 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. Together, the total cost for these fees would be Rs 3,96,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kamaraj Street?

Kamaraj Street is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price to ascertain which is higher. The stamp duty is then calculated based on this higher figure, ensuring that the appropriate fees are collected in accordance with the established guidelines.

Frequently asked questions

What is the current guideline value of Kamaraj Street?

The current guideline value of Kamaraj Street 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 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing a total increase of 300% over the years.

What is the land classification for Kamaraj Street?

Kamaraj Street is classified as Residential Class IV Type - I according to the land classification standards.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Kamaraj Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.