Guideline Value for Kamaraj 2nd Main Rd ( Ward No.23 )

Kamaraj 2nd Main Rd ( Ward No.23 ) guideline value

The current guideline value of Kamaraj 2nd Main Rd ( Ward No.23 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kamaraj 2nd Main Rd ( Ward No.23 ) has changed

Over the years, the guideline value for Kamaraj 2nd Main Rd has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then changed to Rs 1,005 per sq.ft in 2017, marking a decrease of 16%. This was followed by an increase to Rs 1,500 per sq.ft in 2023, and the latest revision for 2024 has raised it further to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

In summary, the guideline value has risen significantly from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, an overall increase of 33%. The revisions for the years 2002, 2003, and 2007 do not have any figures registered for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values for 2024 ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, which is the same as the guideline value for Kamaraj 2nd Main Rd.

• Kamaraj 2nd Cross st ( Ward No.23 ): Rs 1,600 per sq.ft (2024)
• Kamaraj 2nd St. ( Ward No.21 ): Rs 1,600 per sq.ft (2024)
• Kamaraj 3rd Cross st ( Ward No.23 ): Rs 1,600 per sq.ft (2024)
• Kamaraj 1st Cross st ( Ward No.23 ): Rs 1,600 per sq.ft (2024)
• Kamarajar 2nd st ( Ward No.1 ): Rs 1,600 per sq.ft (2024)
• Kamarajar Road Cross Street (Periya Sekkadu): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj 2nd Main Rd ( Ward No.23 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 Kamaraj 2nd Main Rd ( Ward No.23 )?

The Kamaraj 2nd Main Rd ( Ward No.23 ) is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and in accordance with the law.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kamaraj 2nd Main Rd ( Ward No.23 )?

The current guideline value of Kamaraj 2nd Main Rd ( Ward No.23 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,200 per sq.ft to Rs 1,600 per sq.ft in 2024. The most significant increase occurred between 2017 and 2023, with a rise of 49%.

What is the land classification for Kamaraj 2nd Main Rd?

Kamaraj 2nd Main Rd is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties on Kamaraj 2nd Main Rd?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.