Guideline Value for KAMARAJAR STREET

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Manapakkam village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Kamarajar Street has changed

The guideline value for Kamarajar Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a value of Rs 85 per sq.ft. This increased to Rs 95 per sq.ft in 2003, marking a 12% rise. The value then saw a significant jump to Rs 400 per sq.ft in 2007, reflecting a 321% increase. In 2012, the value remained at Rs 1,800 per sq.ft, but this was followed by a decrease to Rs 1,206 per sq.ft in 2017, which represented a 33% drop. The value rose again to Rs 1,800 per sq.ft in 2023, and finally, it increased to the current value of Rs 1,980 per sq.ft in 2024, showing a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 2,229%. Notably, there are no figures available for the years between these revisions for Kamarajar Street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, indicating that Kamarajar Street's current value is below this median.

• Kamaraj Salai: Rs 1,980 per sq.ft (2024)
• J.J. Nagar: Rs 2,200 per sq.ft (2024)
• Kaviya Garden 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviya Garden 1st Main Road: Rs 3,300 per sq.ft (2024)
• Kaviya Garden 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviya Garden 2nd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Street?

Kamarajar Street is covered by the Chennai South Joint I 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 details.

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

The guideline value plays a crucial role in property transactions in Manapakkam. When a property is sold, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are based on an officially recognized value rather than the sale price alone.

This system helps maintain transparency in property transactions. Buyers and sellers should be aware of the current guideline value to accurately calculate the associated costs when registering a property.

Frequently asked questions

What is the current guideline value of Kamarajar Street?

The current guideline value of Kamarajar Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 85 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 2,229% over the years.

What is the median guideline value in Manapakkam?

The median guideline value for streets in Manapakkam is Rs 2,530 per sq.ft, which is higher than the current value of Kamarajar Street.

What fees are associated with buying property in Kamarajar Street?

When buying property, fees include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kamarajar Street?

The Sub Registrar Office covering Kamarajar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.