Guideline Value for Kamaraj Avenue

Kamaraj Avenue guideline value

The current guideline value of Kamaraj Avenue in Valasaravakkam village, under the Virugambakkam SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - I land classification.

How the guideline value of Kamaraj Avenue has changed

The guideline value for Kamaraj Avenue has seen several revisions over the years. In 2002, the value was Rs 255 per sq.ft, which increased to Rs 278 per sq.ft in 2003. Following this, the value surged significantly to Rs 901 per sq.ft in 2007, marking a 224% increase. The 2012 revision saw a decrease to Rs 2,500 per sq.ft, a drop of 33%. The value then rose again to Rs 1,675 per sq.ft in 2017, reflecting a 49% increase. The most recent revision in 2023 set the value at Rs 2,500 per sq.ft, which increased to Rs 2,750 per sq.ft in 2024, a rise of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 978%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO carrying a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. Kamaraj Avenue's current guideline value is below this median.

• Kamaraj Avenue 1st Street: Rs 2,750 per sq.ft (2024)
• Kamaraj Avenue 2nd Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be 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 more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Avenue?

The Sub Registrar Office covering Kamaraj Avenue 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is essential for calculating the applicable duties and fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kamaraj Avenue?

The current guideline value of Kamaraj Avenue 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 increased from Rs 255 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 978% over this period.

What is the land classification of Kamaraj Avenue?

Kamaraj Avenue falls under Residential Class IV Type - I land classification, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in Kamaraj Avenue?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Kamaraj Avenue located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Kamaraj Avenue.