Guideline Value for KAMARAJ STREET

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Pammathukulam village, under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

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 figure is from 2012, where the value was Rs 500 per sq.ft. In 2017, it decreased to Rs 335 per sq.ft, marking a decline of 33%. However, this figure increased significantly to Rs 500 per sq.ft in 2023, and further rose to Rs 550 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2024, the overall change in the guideline value is a modest increase of 10%. The transition from 2017 to 2023 saw a substantial increase of 49%, indicating a notable shift in the guideline value during that period.

Guideline values in Pammathukulam

Pammathukulam village has a total of 101 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 825 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the current guideline value of Kamaraj Street.

• Kamala Nagar: Rs 440 per sq.ft (2024)
• Jayalakshmi Avenue: Rs 330 per sq.ft (2024)
• Jagathambal Nagar: Rs 660 per sq.ft (2024)
• Koteeswaran Nagar: Rs 440 per sq.ft (2024)
• Krish City: Rs 660 per sq.ft (2024)
• Krish City Phase - II: Rs 660 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty, charged at 7%, would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. 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 further assistance.

Which Sub Registrar Office covers Kamaraj Street?

The Sub Registrar Office covering Kamaraj Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees. If the sale price exceeds the guideline value, the duty is charged on the sale price instead. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Kamaraj Street?

The current guideline value of Kamaraj Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024. The value was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012.

Where can I find the Sub Registrar Office for Kamaraj Street?

The Sub Registrar Office for Kamaraj Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 550 per sq.ft would incur a total duty of Rs 49,500.

What is the land classification for Kamaraj Street?

Kamaraj Street falls under the Residential Class II Type - I land classification, which is important for understanding the regulations and guidelines applicable to property transactions in the area.