Guideline Value for KAMARAJAR NAGAR/ MAIN STREETS/ CROSS STREETS

Kamarajar Nagar/ Main Streets/ Cross Streets guideline value

The current guideline value for Kamarajar Nagar/ Main Streets/ Cross Streets is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Ernavur village, which falls under the Thiruvottiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kamarajar Nagar/ Main Streets/ Cross Streets has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, followed by another increase to Rs 1,600 per sq.ft in the 2024 revision, which represents a 7% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the current 2024 value, there has been a modest increase of 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ernavur

Ernavur comprises 82 streets under the Thiruvottiyur SRO, with the 2024 guideline values ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median value among these streets is Rs 1,600 per sq.ft, which aligns with the guideline value for Kamarajar Nagar/ Main Streets/ Cross Streets.

• Kamalammal Street: Rs 1,800 per sq.ft (2024)
• Jothi Nagar/Main Roads/Cross Streets: Rs 1,800 per sq.ft (2024)
• Kanniyala Layout: Rs 1,600 per sq.ft (2024)
• Jayanthi Nagar: Rs 1,600 per sq.ft (2024)
• Kasikoil Kuppam: Rs 1,600 per sq.ft (2024)
• Kasi Koil Meenavar colony: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Nagar/ Main Streets/ Cross Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty, charged at 7%, would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Therefore, the total cost for stamp duty and registration would be Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Nagar/ Main Streets/ Cross Streets?

The Kamarajar Nagar/ Main Streets/ Cross Streets area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions within Ernavur. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration norms.

When a property is sold, the stamp duty and registration fee are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Kamarajar Nagar/ Main Streets/ Cross Streets?

The current guideline value for Kamarajar Nagar/ Main Streets/ Cross Streets is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 1,500 per sq.ft in 2012, Rs 1,005 per sq.ft in 2017, Rs 1,500 per sq.ft in 2023, and Rs 1,600 per sq.ft in 2024. The most recent increase from 2023 to 2024 is 7%.

What are the other streets in Ernavur with their guideline values?

Other streets in Ernavur include Kamalammal Street at Rs 1,800 per sq.ft, Jothi Nagar/Main Roads/Cross Streets at Rs 1,800 per sq.ft, and several others at Rs 1,600 per sq.ft. The guideline values vary across the 82 streets in the village.

What fees are associated with buying property in Kamarajar Nagar/ Main Streets/ Cross Streets?

When purchasing property, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 1,44,000 in fees.

Where can I find the Sub Registrar Office for Kamarajar Nagar/ Main Streets/ Cross Streets?

The Sub Registrar Office covering this area is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find more details online.