Guideline Value for KAMARAJAR STREET (NEAR INDUSTRIAL ESTATE ROAD/EGRET)

Kamarajar Street (Near Industrial Estate Road/Egret) guideline value

The current guideline value of Kamarajar Street (Near Industrial Estate Road/Egret) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of Kamarajar Street (Near Industrial Estate Road/Egret) has changed

Over the years, the guideline value of Kamarajar Street has seen several revisions. The 2012 revision set the value at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 5,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, positioning Kamarajar Street (Near Industrial Estate Road/Egret) above this median.

• KAMARAJAR STREET (10ft ROAD): Rs 2,200 per sq.ft (2024)
• Kamaraj Salai: Rs 5,500 per sq.ft (2024)
• Kamaraj Street (Near Post Office): Rs 4,400 per sq.ft (2024)
• Kamaraj Street (Near V.P.G.): Rs 2,200 per sq.ft (2024)
• Kanakavalli Avenue: Rs 1,100 per sq.ft (2024)
• Jothimadha Alaiyam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Street (Near Industrial Estate Road/Egret)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamarajar Street (Near Industrial Estate Road/Egret)?

The Sub Registrar Office that covers Kamarajar Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Okkiyamthuraipakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The buyer must pay these fees based on the higher of the guideline value or the sale price, ensuring that the transaction is officially recorded.

The guideline value is periodically revised to reflect changes in the property market and local conditions. It serves as a reference point for both buyers and sellers during property transactions, ensuring transparency and consistency in the registration process.

Frequently asked questions

What is the current guideline value of Kamarajar Street (Near Industrial Estate Road/Egret)?

The current guideline value of Kamarajar Street (Near Industrial Estate Road/Egret) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024. It was Rs 3,350 per sq.ft in 2017 and Rs 5,000 per sq.ft in 2012.

What is the land classification for Kamarajar Street?

Kamarajar Street (Near Industrial Estate Road/Egret) is classified as Residential Special Type - III.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Kamarajar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.