Guideline Value for KAMARAJ STREET

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Chitthalapakkam village is Rs 1,950 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class II Type - II.

How the guideline value of Kamaraj Street has changed

Over the years, the guideline value of Kamaraj Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. The subsequent revision in 2023 raised the value to Rs 1,800 per sq.ft, and the latest revision in 2024 increased it further to Rs 1,950 per sq.ft, marking an 8% increase from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value is an increase of 30%. The 2017 revision did not have a figure available for Kamaraj Street, and similarly, the revisions for 2002, 2003, and 2007 also have no figures recorded in the register.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,900 per sq.ft, placing Kamaraj Street's 2024 value below this median.

• Kamaraj Nagar: Rs 2,400 per sq.ft (2024)
• Kamaraj Avenue: Rs 2,700 per sq.ft (2024)
• Kambar Street: Rs 1,950 per sq.ft (2024)
• Kalaingar Street: Rs 1,950 per sq.ft (2024)
• Kanni Koil Street: Rs 2,900 per sq.ft (2024)
• Kakanji Street: Rs 1,950 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 1,950 per sq.ft, the total guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total to Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Street?

Kamaraj Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is an essential factor during property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued during the sale process.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures transparency and fairness in the registration process.

Frequently asked questions

What is the current guideline value of Kamaraj Street?

The current guideline value of Kamaraj Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,950 per sq.ft in 2024, with significant changes in between, including a drop in 2017 to Rs 1,005 per sq.ft and an increase to Rs 1,800 per sq.ft in 2023.

What is the land classification of Kamaraj Street?

Kamaraj Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Kamaraj Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 19,50,000, the total fees would amount to Rs 1,75,500.

Which office handles registrations for Kamaraj Street?

The Selaiyur Sub Registrar Office handles registrations for Kamaraj Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.