Guideline Value for KAMARAJAR STREET

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Saidapet village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Kamarajar Street has changed

The guideline value for Kamarajar Street has seen several revisions over the years. In 2002, the value was Rs 705 per sq.ft, which increased to Rs 883 per sq.ft in 2003, marking a 25% rise. The value continued to grow, reaching Rs 1,100 per sq.ft in 2007, a 25% increase from the previous revision. By 2012, the value had jumped significantly to Rs 4,000 per sq.ft, reflecting a 264% increase from 2007. However, this was followed by a decrease to Rs 2,680 per sq.ft in 2017, a decline of 33%.

In 2023, the guideline value rose to Rs 4,000 per sq.ft, and the most recent revision in 2024 set it at Rs 4,400 per sq.ft, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 524%.

Guideline values in Saidapet

Saidapet village has 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is the same as the current guideline value for Kamarajar Street.

• Kaleeswarar Koil Street: Rs 4,950 per sq.ft (2024)
• Kambar Street: Rs 5,500 per sq.ft (2024)
• Kannagi Street: Rs 4,400 per sq.ft (2024)
• Karaneeswarar Koil Street: Rs 5,500 per sq.ft (2024)
• Jones Road: Rs 8,250 per sq.ft (2024)
• Jeeva Street: Rs 4,400 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, together totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamarajar Street?

Kamarajar Street is covered by the Chennai South Joint II 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 critical factor in property transactions in Saidapet. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the government and is updated periodically, reflecting changes in the market conditions.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kamarajar Street?

The current guideline value of Kamarajar Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 705 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 524% over the years.

What is the classification of land on Kamarajar Street?

Kamarajar Street is classified as Residential Class II Type - II, indicating its designated use for residential purposes.

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.

How is stamp duty calculated for properties in Kamarajar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,08,000.