Guideline Value for Kamaraj Colony 4th Street

Kamaraj Colony 4th Street guideline value

The current guideline value of Kamaraj Colony 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Special Type - II.

How the guideline value of Kamaraj Colony 4th Street has changed

Over the years, the guideline value of Kamaraj Colony 4th Street has seen several revisions. The 2012 revision recorded a guideline value of Rs 3,500 per sq.ft, which remained unchanged in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Kamaraj Colony 4th Street. The overall change from the 2012 revision to the 2024 revision shows a 10% increase, indicating a gradual adjustment in the guideline value.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Kamaraj Colony 4th Street's 2024 figure above that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Colony 4th Street?

The Kamaraj Colony 4th 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 plays a crucial role during property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must be aware that the guideline value is the basis for calculating these fees, ensuring transparency in the transaction process.

When a property is sold, the guideline value is checked against the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamaraj Colony 4th Street?

The current guideline value of Kamaraj Colony 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. The value has also risen from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, a 49% increase.

What is the land classification of Kamaraj Colony 4th Street?

Kamaraj Colony 4th Street is classified as Residential Special Type - II, indicating its designation for residential purposes within the area.

What are the stamp duty rates applicable?

The stamp duty rate for property transactions in Kamaraj Colony 4th Street is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Kamaraj Colony 4th Street?

The Sub Registrar Office covering Kamaraj Colony 4th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.