Guideline Value for KAMARAJAR ROAD

Kamarajar Road guideline value

The current guideline value of Kamarajar Road in Ramapuram village is Rs 3,550 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Kamarajar Road has changed

The guideline value for Kamarajar Road has seen several revisions over the years. In 2002, the value was Rs 419 per sq.ft, which increased to Rs 518 per sq.ft in 2003, marking a 24% rise. The value continued to climb, reaching Rs 1,100 per sq.ft in 2007, an increase of 112%. By 2012, the value was Rs 3,200 per sq.ft, reflecting a significant jump of 191% from the previous revision. However, it then dropped to Rs 2,144 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 3,200 per sq.ft in 2023, only to increase further to the current rate of Rs 3,550 per sq.ft in 2024, which is an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 747%. The register has no figure for the years not mentioned in the revisions listed.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, placing Kamarajar Road's 2024 figure above that median.

• Kamaraj 2nd Street: Rs 4,400 per sq.ft (2024)
• Kamaraj 1st Street: Rs 4,400 per sq.ft (2024)
• Kalyani Ponnappan Avenue Annex: Rs 3,550 per sq.ft (2024)
• Kalyani Ponnappan Avenue: Rs 3,550 per sq.ft (2024)
• Kalsathamman Koil Street: Rs 2,750 per sq.ft (2024)
• Kamaraj Salai: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,550 per sq.ft, the total guideline value would be Rs 35,50,000. The stamp duty at 7% would amount to Rs 2,48,500, and the registration fee at 2% would be Rs 71,000, bringing the total to Rs 3,19,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Road?

Kamarajar Road is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum price at which a property can be registered. This ensures that the transaction is documented accurately and reflects the prevailing market conditions.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This value is essential for calculating the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Kamarajar Road?

The current guideline value of Kamarajar Road is Rs 3,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 419 per sq.ft in 2002 to Rs 3,550 per sq.ft in 2024, marking an overall increase of 747% over this period.

What are the stamp duty and registration fees for property in Kamarajar Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 35,50,000. The stamp duty is Rs 2,48,500, and the registration fee is Rs 71,000, totaling Rs 3,19,500.

Which Sub Registrar Office covers Kamarajar Road?

Kamarajar Road is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for determining the minimum sale price for property registration. It is also essential for calculating the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.