Guideline Value for Kamaraj 1st Street

Kamaraj 1st Street guideline value

The current guideline value of Kamaraj 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village under the Chennai South Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Kamaraj 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 4,000 per sq.ft. This figure saw a decrease to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 has raised the guideline value to Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for Kamaraj 1st Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Kamaraj 1st Street's 2024 figure of Rs 4,400 per sq.ft is above this median.

• Kamaraj 2nd Street: Rs 4,400 per sq.ft (2024)
• Kamarajar Road: Rs 3,550 per sq.ft (2024)
• Kalyani Ponnappan Avenue Annex: Rs 3,550 per sq.ft (2024)
• Kalyani Ponnappan Avenue: Rs 3,550 per sq.ft (2024)
• Kalsathamman Koil Street: Rs 2,750 per sq.ft (2024)
• Kaliyappa Naicker Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total charges 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kamaraj 1st Street?

Kamaraj 1st Street falls under 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 details.

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

The guideline value is a crucial factor during property registration in Ramapuram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When engaging in a property transaction, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Kamaraj 1st Street?

The current guideline value of Kamaraj 1st 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 seen several revisions, starting from Rs 4,000 per sq.ft in 2012, decreasing to Rs 2,680 per sq.ft in 2017, and increasing to Rs 4,000 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 4,400 per sq.ft.

What is the land classification for Kamaraj 1st Street?

Kamaraj 1st Street is classified as Residential Special Type - I under the Chennai South Joint II SRO.

What are the stamp duty and registration fees for properties in Kamaraj 1st Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Kamaraj 1st Street?

Kamaraj 1st 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.