Guideline Value for Kamaraj Avenue 2nd Street

Kamaraj Avenue 2nd Street guideline value

The current guideline value of Kamaraj Avenue 2nd Street is Rs 9,400 per sq.ft, effective from 1 July 2024. This street is located in Pallipattu village under the Adayar SRO, and it falls under the land classification of Residential Special Type - I.

How the guideline value of Kamaraj Avenue 2nd Street has changed

The guideline value for Kamaraj Avenue 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 1,308 per sq.ft. This increased to Rs 1,430 per sq.ft in 2003, marking a 9% rise. The value continued to grow significantly, reaching Rs 3,000 per sq.ft in 2007, which was an increase of 110%. In 2012, the value was Rs 8,500 per sq.ft, reflecting a substantial rise of 183% from the previous revision.

From 2012, the guideline value decreased to Rs 5,695 per sq.ft in 2017, representing a decline of 33%. However, the value rebounded to Rs 8,500 per sq.ft in 2023, before reaching the current value of Rs 9,400 per sq.ft in 2024, which is an increase of 11% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 619%.

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 guideline value for these streets is Rs 9,400 per sq.ft, which is the same as the current value for Kamaraj Avenue 2nd Street.

• Kamaraj Avenue 1st 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 2nd 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 cost for these 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Avenue 2nd Street?

The Sub Registrar Office that covers Kamaraj Avenue 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pallipattu, as it determines the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will assess the higher of the guideline value or the sale price to calculate the applicable stamp duty and registration fees.

This ensures that the government receives appropriate revenue from property transactions. Buyers should be aware of the guideline value to understand the costs associated with registering their property accurately.

Frequently asked questions

What is the current guideline value for Kamaraj Avenue 2nd Street?

The current guideline value for Kamaraj Avenue 2nd 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 significantly from Rs 1,308 per sq.ft in 2002 to Rs 9,400 per sq.ft in 2024, reflecting an overall increase of 619% over this period.

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

For a 1,000 sq.ft property, the total guideline value is Rs 94,00,000. The stamp duty would be Rs 6,58,000, and the registration fee would be Rs 1,88,000, totaling Rs 8,46,000.

Which office handles property registrations for Kamaraj Avenue 2nd Street?

The Adayar Sub Registrar Office handles property registrations for Kamaraj Avenue 2nd Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the guideline value determined for properties in Pallipattu?

The guideline value is determined by the Registration Department and reflects the minimum value for property registration. It is updated periodically based on market conditions and other factors affecting real estate in the area.