Guideline Value for Kamaraj Avenue 1st Street

Kamaraj Avenue 1st Street guideline value

The current guideline value of Kamaraj Avenue 1st Street in Pallipattu village, under the Adayar SRO, is Rs 9,400 per sq.ft, effective from 1 July 2024. This street falls under the land classification of Residential Special Type - I.

How the guideline value of Kamaraj Avenue 1st Street has changed

The guideline value for Kamaraj Avenue 1st Street has seen several revisions over the years. In 2002, the value was Rs 1,740 per sq.ft, which increased to Rs 1,924 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 3,000 per sq.ft in 2007, representing a 56% increase. Following this, the 2012 revision set the value at Rs 8,500 per sq.ft, which was a substantial rise of 183% from the previous figure. However, in 2017, the value decreased to Rs 5,695 per sq.ft, reflecting a decline of 33%. The 2023 revision brought the value back up to Rs 8,500 per sq.ft, and the most recent revision in 2024 set it at Rs 9,400 per sq.ft, an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 440%. There are no figures available for the years in between these revisions for Kamaraj Avenue 1st Street.

Guideline values in Pallipattu

Pallipattu village has a total of 72 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value for these streets is Rs 9,400 per sq.ft, which is equal to the current guideline value of Kamaraj Avenue 1st Street.

• Kamaraj Avenue 2nd Street: Rs 9,400 per sq.ft (2024)
• Kamaraj Avenue School Road: Rs 9,400 per sq.ft (2024)
• Kandasamy Naikkan Street: Rs 3,300 per sq.ft (2024)
• Justice V. Ramaswamy Road: Rs 9,400 per sq.ft (2024)
• Kanniyammal Kadai Street: Rs 3,300 per sq.ft (2024)
• Kasthuribai Nagar 1st Cross Street: Rs 9,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value amounts to Rs 94,00,000. The stamp duty at 7% would be Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, bringing the total fees to Rs 8,46,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Avenue 1st Street?

The Kamaraj Avenue 1st Street falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For additional details, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Pallipattu. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware of this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. This ensures that all transactions are conducted transparently and within the legal framework.

Frequently asked questions

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

The current guideline value of Kamaraj Avenue 1st Street is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,740 per sq.ft in 2002 to Rs 9,400 per sq.ft in 2024, showing an overall increase of 440%.

What is the land classification for Kamaraj Avenue 1st Street?

Kamaraj Avenue 1st Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft property, the total stamp duty and registration fees would amount to Rs 8,46,000 based on the current guideline value.

Which office handles the registration for Kamaraj Avenue 1st Street?

The Adayar Sub Registrar Office handles the registration for Kamaraj Avenue 1st Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.