Guideline Value for KAMARAJAR STREET (WARD-21)

Kamarajar Street (Ward-21) guideline value

The current guideline value of Kamarajar Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Kamarajar Street (Ward-21) has changed

The guideline value for Kamarajar Street (Ward-21) has undergone several revisions over the years. The earliest recorded figure is from 2012, when it was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. In 2023, the guideline value increased to Rs 600 per sq.ft, and the latest revision in 2024 shows a further increase to Rs 660 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the value increased by 49%, while from 2023 to 2024, it rose by 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%, reflecting the changes in the local real estate landscape.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, placing Kamarajar Street (Ward-21) below this median.

• Kamatchi Nagar (Val): Rs 880 per sq.ft (2024)
• Kambar Street (Ward-20): Rs 1,100 per sq.ft (2024)
• Kambar Street (Ward-21): Rs 660 per sq.ft (2024)
• Kalaivani Nagar Main Road (Ward -1): Rs 770 per sq.ft (2024)
• Kalaimagal Street (Ward-21): Rs 660 per sq.ft (2024)
• Kalaignar Karunanithi Street (Ward-20): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value is Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kamarajar Street (Ward-21)?

The Sub Registrar Office that covers Kamarajar Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Konathi. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is assessed to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kamarajar Street (Ward-21)?

The current guideline value of Kamarajar Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Kamarajar Street (Ward-21)?

Kamarajar Street (Ward-21) is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kamarajar Street (Ward-21)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.