Guideline Value for KAMARAJAR STREET (VETTUVANKENI)

Kamarajar Street (Vettuvankeni) guideline value

The current guideline value of Kamarajar Street (Vettuvankeni) is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kamarajar Street (Vettuvankeni) has changed

The guideline value of Kamarajar Street (Vettuvankeni) has seen significant changes over the years. In 2003, the guideline value was Rs 185 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a 170% rise. Following this, the value surged to Rs 2,500 per sq.ft in 2012, reflecting a remarkable 400% increase. However, there was a decrease to Rs 1,675 per sq.ft in 2017, which represented a decline of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, showing a 49% increase. The latest revision in 2024 has set the guideline value at Rs 2,800 per sq.ft, which is a 12% increase from the previous year.

It is important to note that the register has no figure for Kamarajar Street (Vettuvankeni) for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 1,414%.

Guideline values in Enjambakkam

In Enjambakkam village, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Kamarajar Street (Vettuvankeni) above this median.

• Kakkan Street: Rs 2,200 per sq.ft (2024)
• Karthik Nagar: Rs 1,100 per sq.ft (2024)
• Karthik Nagar (Near Ecr): Rs 3,300 per sq.ft (2024)
• Jansi Street: Rs 1,100 per sq.ft (2024)
• Jagajeevan Ram Avenue: Rs 5,000 per sq.ft (2024)
• Kohinoor Complex: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Street (Vettuvankeni)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Street (Vettuvankeni)?

The Sub Registrar Office that covers Kamarajar Street (Vettuvankeni) 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 Enjambakkam

The guideline value is an important factor in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value can affect the overall cost of the property transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue based on the property’s value.

Frequently asked questions

What is the current guideline value of Kamarajar Street (Vettuvankeni)?

The current guideline value of Kamarajar Street (Vettuvankeni) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 185 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,414%.

What is the median guideline value in Enjambakkam?

The median guideline value for streets in Enjambakkam is Rs 2,200 per sq.ft, which is lower than the current value of Kamarajar Street (Vettuvankeni).

What are the stamp duty and registration fees for property in Kamarajar Street (Vettuvankeni)?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Kamarajar Street (Vettuvankeni)?

The Neelankarai Sub Registrar Office covers Kamarajar Street (Vettuvankeni), located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.