Guideline Value for KAMRAJ NEW COLONY

Kamraj New Colony guideline value

The current guideline value of Kamraj New Colony is Rs 3,200 per sq.ft, effective from 1 July 2024. This area is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kamraj New Colony has changed

The guideline value for Kamraj New Colony has seen several revisions over the years. In 2002, the value was Rs 420 per sq.ft, which increased to Rs 461 per sq.ft in 2003, marking a 10% increase. The value then rose to Rs 600 per sq.ft in 2007, reflecting a 30% increase from the previous revision. By 2012, the guideline value reached Rs 3,000 per sq.ft, which was a significant increase of 400% from 2007. However, in 2017, it dropped to Rs 2,010 per sq.ft, indicating a decrease of 33%.

From 2017 to 2023, the value increased substantially to Rs 3,000 per sq.ft, showing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,200 per sq.ft, which is a 7% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 662%. There are no figures for this street in the register for the years not listed.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median of Rs 2,700 per sq.ft. The guideline value for Kamraj New Colony is above this median.

• Kamraj Street: Rs 2,200 per sq.ft (2024)
• Kanagammal Lane: Rs 2,200 per sq.ft (2024)
• Kandappa Pillai Street: Rs 3,800 per sq.ft (2024)
• Kamatchi Street: Rs 2,200 per sq.ft (2024)
• Kandhan Street: Rs 3,800 per sq.ft (2024)
• Kannabiran Koil Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamraj New Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value would be Rs 32,00,000. The stamp duty at 7% would amount to Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, totaling Rs 2,88,000. 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 details.

Which Sub Registrar Office covers Kamraj New Colony?

The Sub Registrar Office that covers Kamraj New Colony is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for all property transactions.

When a property is sold, the sale price and the guideline value are compared, and the higher of the two is used to calculate the applicable duties. 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 Kamraj New Colony?

The current guideline value of Kamraj New Colony is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 420 per sq.ft in 2002 to Rs 3,200 per sq.ft in 2024, reflecting a total increase of 662% over this period.

What is the land classification of Kamraj New Colony?

Kamraj New Colony is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Kamraj New Colony?

The Sub Registrar Office for Kamraj New Colony is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.