Guideline Value for KAMRAJ STREET

Kamraj Street guideline value

The current guideline value of Kamraj Street in Perambur village, under the Purasaivakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Kamraj Street has changed

The guideline value for Kamraj Street has seen significant changes over the years. The 2002 revision recorded a guideline value of Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003. Following this, the value rose to Rs 550 per sq.ft in 2007, marking an increase of 49%. The 2012 revision brought the value to Rs 2,000 per sq.ft, a substantial increase of 264%. However, the 2017 revision saw a decrease to Rs 1,340 per sq.ft, a drop of 33%. In 2023, the value was adjusted to Rs 2,000 per sq.ft, and it has now increased to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 555%. There are no figures available for the years not listed in the register for this street.

Guideline values in Perambur

In Perambur, 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. The median value is Rs 2,700 per sq.ft, placing Kamraj Street's 2024 figure below this median.

• Kamraj New Colony: Rs 3,200 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. Note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamraj Street?

The Kamraj Street falls under the jurisdiction of 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 when registering property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must refer to the guideline value to ensure compliance with the registration process.

When a property is sold, the guideline value is used to calculate the applicable taxes and fees. It is important to note that the duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamraj Street?

The current guideline value of Kamraj Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 336 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 555% over the years.

What is the land classification of Kamraj Street?

Kamraj Street is classified as Residential Class IV Type - I according to the land classification system.

What are the stamp duty and registration fees for properties in Kamraj Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Kamraj Street?

The Purasaivakkam Sub Registrar Office handles the registration for Kamraj Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.