Guideline Value for KAMARAJAR STEET (WARD -3)

Kamarajar Steet (Ward -3) guideline value

The current guideline value of Kamarajar Steet (Ward -3) is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Kamarajar Steet (Ward -3) has changed

The guideline value for Kamarajar Steet has seen several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. Following this, the 2023 revision raised the value to Rs 900 per sq.ft, and the most recent 2024 revision increased it further to Rs 990 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between the revisions show a 49% increase from 2017 to 2023 and a 10% increase overall from 2012 to 2024. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Kamarajar Steet's 2024 figure below this median.

• Kamarajar Salai (Ward -8): Rs 1,980 per sq.ft (2024)
• Kamalammal Avenue: Rs 1,650 per sq.ft (2024)
• Kamaraj Avenue: Rs 550 per sq.ft (2024)
• Kalaivanar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Kammbar Street (Ward -7): Rs 1,980 per sq.ft (2024)
• Kalaimagal Nagar, Ninnakarai (Ward -19): Rs 661 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Steet (Ward -3)

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees together to Rs 89,100. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Kamarajar Steet (Ward -3)?

The Sub Registrar Office that covers Kamarajar Steet (Ward -3) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Peramanoor, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of ownership. It is essential for both parties to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kamarajar Steet (Ward -3)?

The current guideline value of Kamarajar Steet (Ward -3) is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Kamarajar Steet?

Kamarajar Steet is classified as Residential Class I Type - II, indicating its suitability for residential development.

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 2%. For a property valued at Rs 9,90,000, the total fees would be Rs 89,100.

Which office handles registrations for Kamarajar Steet?

The Chengleput Joint II Sub Registrar Office handles registrations for Kamarajar Steet (Ward -3), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.