Guideline Value for KAMARAJAR STREET

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Pallikaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This property 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 significant changes over the years. In 2002, the value was Rs 58 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 72% rise. The value continued to rise, reaching Rs 400 per sq.ft in 2007, a substantial increase of 300%. By 2012, the value was Rs 1,200 per sq.ft, reflecting a 200% increase from the previous revision. However, it decreased to Rs 804 per sq.ft in 2017, a drop of 33%. In 2023, the value rose again to Rs 1,200 per sq.ft, and as of 2024, it is now Rs 1,320 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, Kamarajar Street has experienced a remarkable increase of 2,176% in its guideline value. The register has no figures for the years not listed, ensuring clarity in the revisions documented.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values for 2024 ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Kamarajar Street's 2024 figure below that median.

• Kamarajar Street Extn: Rs 1,320 per sq.ft (2024)
• Kamakoti Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar / Extn: Rs 2,750 per sq.ft (2024)
• Kamakoti Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 5th Street Extension: 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 rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, 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 information.

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

The guideline value is a crucial factor when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers must be aware that the guideline value may influence the overall cost of the property transaction.

During the registration process, the guideline value ensures that the property is valued correctly for taxation purposes. This value is particularly important as it helps in maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Kamarajar Street?

The current guideline value of Kamarajar Street is Rs 1,320 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 58 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 2,176% over the years.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, which is higher than the current value of Kamarajar Street.

What are the stamp duty and registration fees for Kamarajar Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,18,800, based on the current guideline value.

Which office handles the registration for Kamarajar Street?

The registration for Kamarajar Street is handled 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.