Guideline Value for Kamaraj Avenue 2nd Street

Kamaraj Avenue 2nd Street guideline value

The current guideline value of Kamaraj Avenue 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class IV Type - I.

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

The guideline value for Kamaraj Avenue 2nd Street has undergone several revisions. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, an increase of 10% from Rs 2,500 per sq.ft in the 2023 revision. Prior to that, the 2012 revision also recorded a value of Rs 2,500 per sq.ft, indicating no change from 2012 to 2023.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value of these streets is Rs 3,850 per sq.ft, placing Kamaraj Avenue 2nd Street below that median.

• Kamaraj Avenue 1st Street: Rs 2,750 per sq.ft (2024)
• Kamaraj Avenue: Rs 2,750 per sq.ft (2024)
• Kamamodi Nagar Main road II part: Rs 4,400 per sq.ft (2024)
• Kamakodi Nagar - Vinayagar Koil Street: Rs 4,400 per sq.ft (2024)
• Kamakodi Nagar - Thilagar Street: Rs 4,400 per sq.ft (2024)
• Kamakodi Nagar - Sundarar Street: Rs 4,400 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 rate, the guideline value is Rs 27,50,000. The stamp duty at 7% amounts to Rs 1,92,500, while the registration fee at 2% totals Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the 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 Avenue 2nd Street?

The Sub Registrar Office that covers Kamaraj Avenue 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It determines the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accordingly.

When a property is sold, the guideline value is used to assess the applicable stamp duty and registration fees. Buyers should be aware that these costs can significantly affect the overall expenditure involved in the property transaction.

Frequently asked questions

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

The current guideline value of Kamaraj Avenue 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. There was no change in the value from 2012 to 2023, which remained at Rs 2,500 per sq.ft.

What are the other streets with similar guideline values in Valasaravakkam?

Other streets in Valasaravakkam with the same guideline value of Rs 2,750 per sq.ft in 2024 include Kamaraj Avenue 1st Street and Kamaraj Avenue.

Where can I calculate stamp duty and registration fees for my property?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office do I need to visit for property registration in Kamaraj Avenue 2nd Street?

The Virugambakkam Sub Registrar Office is responsible for property registration in Kamaraj Avenue 2nd Street. The office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.