Guideline Value for KAMARAJAR STREET

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Saidapet village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Kamarajar Street has changed

Since the 2002 revision, the guideline value for Kamarajar Street has seen significant changes. In 2002, the value was Rs 704 per sq.ft, which increased to Rs 810 per sq.ft in 2003, marking a 15% rise. The value continued to grow, reaching Rs 1,300 per sq.ft in 2007, a 60% increase from the previous year. By 2012, it was Rs 3,000 per sq.ft, reflecting a 131% jump from 2007. However, the value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33% from 2012. The value then rose again to Rs 3,000 per sq.ft in 2023, followed by a 10% increase to the current rate of Rs 3,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 369%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Kamarajar Street.

• Karaneeswarar Koil Street: Rs 4,950 per sq.ft (2024)
• Karan Garden: Rs 2,750 per sq.ft (2024)
• Karan Garden 1st Street: Rs 2,750 per sq.ft (2024)
• Karan Garden 2nd Street: Rs 2,750 per sq.ft (2024)
• Karan Garden 3rd Street: Rs 2,750 per sq.ft (2024)
• Jones Road: Rs 8,250 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 Saidapet

The guideline value is a crucial factor during the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable taxes and fees, ensuring that the registration reflects the accurate financial transaction.

Frequently asked questions

What is the current guideline value of Kamarajar Street?

The current guideline value of Kamarajar Street is Rs 3,300 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 704 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 369% over the years.

What is the land classification for Kamarajar Street?

Kamarajar Street is classified as Residential Class III Type - I under the Chennai South Joint I SRO.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would be Rs 2,97,000.

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.