Guideline Value for KAMARAJAR 2ND STREET

Kamarajar 2nd Street guideline value

The current guideline value of Kamarajar 2nd Street is Rs 1,625 per sq.ft, effective from 1 July 2024. This street is located in Vilingiyambakkam village, under the Avadi SRO, and is classified as Residential Special Type - II.

How the guideline value of Kamarajar 2nd Street has changed

The guideline value for Kamarajar 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 350 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The following revision in 2023 saw a substantial increase to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 1,625 per sq.ft.

In terms of percentage changes, the value increased by 8% from 2023 to 2024. From 2017 to 2023, there was a notable rise of 49%. The value decreased by 33% from 2012 to 2017, and there was a remarkable increase of 329% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 364%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 935 per sq.ft, placing Kamarajar 2nd Street's 2024 value above that median.

• Kamarajar 1st Street: Rs 1,625 per sq.ft (2024)
• Kamarajar 3rd Cross St: Rs 935 per sq.ft (2024)
• Kamarajar 3rd Street: Rs 1,625 per sq.ft (2024)
• Kamarajar 4th Street: Rs 1,625 per sq.ft (2024)
• Kamarajar 5th Street: Rs 1,625 per sq.ft (2024)
• Kamarajar 6th Street: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,625 per sq.ft, the total guideline value would be Rs 16,25,000. The stamp duty at 7% would be Rs 1,13,750, and the registration fee at 2% would be Rs 32,500, bringing the total to Rs 1,46,250. 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 details.

Which Sub Registrar Office covers Kamarajar 2nd Street?

Kamarajar 2nd Street falls under the jurisdiction of the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions as it determines the minimum price at which a property can be registered. When buying or selling property in Vilingiyambakkam, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This value helps in establishing a clear understanding of the financial obligations associated with property transactions.

Frequently asked questions

What is the current guideline value of Kamarajar 2nd Street?

The current guideline value of Kamarajar 2nd Street is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 1,625 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Kamarajar 2nd Street?

Kamarajar 2nd Street is classified as Residential Special Type - II.

Where can I find the registration office for Kamarajar 2nd Street?

The registration office for Kamarajar 2nd Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Kamarajar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,25,000, the stamp duty would be Rs 1,13,750 at a rate of 7%.