Guideline Value for Kamaraj 2nd St. ( Ward No.21 )

Kamaraj 2nd St. ( Ward No.21 ) guideline value

The current guideline value of Kamaraj 2nd St. ( Ward No.21 ) is Rs 1,600 per sq.ft. 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 St. ( Ward No.21 ) has changed

The guideline value for Kamaraj 2nd St. has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure increased to Rs 1,005 per sq.ft in 2017, marking a decrease of 16%. However, from 2017 to 2023, the value rose significantly to Rs 1,500 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, a 7% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which aligns with the current value for Kamaraj 2nd St. ( Ward No.21 ).

• Kamaraj 3rd Cross st ( Ward No.23 ): Rs 1,600 per sq.ft (2024)
• Kamaraj 2nd Main Rd ( Ward No.23 ): Rs 1,600 per sq.ft (2024)
• Kamaraj 2nd 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 St. ( Ward No.21 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj 2nd St. ( Ward No.21 )?

The Sub Registrar Office that covers Kamaraj 2nd St. ( Ward No.21 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller adhere to the regulatory requirements set forth by the government.

Frequently asked questions

What is the current guideline value for Kamaraj 2nd St.?

The current guideline value for Kamaraj 2nd St. ( Ward No.21 ) is Rs 1,600 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, with various increases and one decrease in between.

What is the land classification for Kamaraj 2nd St.?

Kamaraj 2nd St. is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Kamaraj 2nd St.?

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 rate would incur a stamp duty of Rs 1,12,000.