Guideline Value for Kamaraj Colony 5th Street

Kamaraj Colony 5th Street guideline value

The current guideline value of Kamaraj Colony 5th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Kamaraj Colony 5th Street has changed

The guideline value for Kamaraj Colony 5th Street has seen several revisions over the years. The 2012 revision set the guideline value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, the value increased significantly to Rs 3,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 3,850 per sq.ft in the 2024 revision, reflecting a 10% rise.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2023 to 2024 revision alone shows a 10% increase, while the jump from 2017 to 2023 represents a notable increase of 49%. The register has no 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, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Kamaraj Colony 5th Street's 2024 figure above this median.

• Kamaraj Colony 4th Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Colony 3rd 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 5th 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, totaling Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Kamaraj Colony 5th Street?

The Kamaraj Colony 5th Street is covered by 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 an important factor during property registration in Chitlapakkam. It serves as a reference point for calculating the stamp duty and registration fees that are applicable when buying or selling property.

When a property is sold, the guideline value will be used to determine the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. It is essential to check the latest guideline value before proceeding with any property transactions.

Frequently asked questions

What is the current guideline value of Kamaraj Colony 5th Street?

The current guideline value of Kamaraj Colony 5th 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 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for Kamaraj Colony 5th Street?

The land classification for Kamaraj Colony 5th Street is Residential Special Type - II.

Which Sub Registrar Office covers Kamaraj Colony 5th Street?

The Tambaram Joint 1 Sub Registrar Office covers Kamaraj Colony 5th Street, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Kamaraj Colony 5th Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 38,50,000, resulting in a stamp duty of Rs 2,69,500.