Guideline Value for Kamaraj Colony 2nd Street

Kamaraj Colony 2nd Street guideline value

The current guideline value of Kamaraj Colony 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - I.

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

The guideline value for Kamaraj Colony 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was followed by a decrease to Rs 2,680 per sq.ft in the 2017 revision. However, the value significantly increased to Rs 4,000 per sq.ft in the 2023 revision, and then rose again to the current rate of Rs 4,400 per sq.ft in the 2024 revision.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and saw a 10% increase from 2023 to 2024. The overall change from the 2012 revision to the 2024 revision is a 10% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 1,650 per sq.ft. Kamaraj Colony 2nd Street's 2024 guideline value of Rs 4,400 per sq.ft is above this median.

• Kamaraj Colony 1st Street: Rs 4,400 per sq.ft (2024)
• Kamaraj Colony 3rd Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Colony 4th Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Colony 5th Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kamaraj Colony 2nd Street?

Kamaraj Colony 2nd Street falls under the Tambaram Joint 1 Sub Registrar Office located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chitlapakkam. It serves as a benchmark for the minimum price at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

Frequently asked questions

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

The current guideline value of Kamaraj Colony 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft in 2024.

What is the land classification for Kamaraj Colony 2nd Street?

Kamaraj Colony 2nd Street is classified as Residential Special Type - I, indicating its designation for residential purposes.

What is the registration office for Kamaraj Colony 2nd Street?

The registration office covering Kamaraj Colony 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would amount to Rs 3,08,000.