Guideline Value for Kamaraj Colony Block 80

Kamaraj Colony Block 80 guideline value

The current guideline value for Kamaraj Colony Block 80 is Rs 4,100 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this block is Residential Class IV Type - I.

How the guideline value of Kamaraj Colony Block 80 has changed

The guideline value for Kamaraj Colony Block 80 has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the value to Rs 4,100 per sq.ft, marking a 9% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2017 for this street. The overall increase from the 2007 revision to the 2024 revision is 413%, highlighting substantial growth over the years.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Kamaraj Colony Block 80's 2024 figure below this median.

• Kamaraj Colony: Rs 4,100 per sq.ft (2024)
• Kamarajar Street (JPT): Rs 4,100 per sq.ft (2024)
• Kamarajar Street Ch-78(M.G.R): Rs 3,300 per sq.ft (2024)
• Kamarajar Salai Ch-78: Rs 8,800 per sq.ft (2024)
• Kamarajar Salai (Block 29) Ashok Nagar: Rs 8,800 per sq.ft (2024)
• Kamaraj Colony 9th Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Colony Block 80

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, leading to a total of Rs 3,69,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Colony Block 80?

The Sub Registrar Office that covers Kamaraj Colony Block 80 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is set by the government and can vary from one locality to another.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable taxes and fees. It is essential for both buyers and sellers to understand this value to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value for Kamaraj Colony Block 80?

The current guideline value for Kamaraj Colony Block 80 is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 413% over the years.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Kamarajar Street (JPT) and Kamaraj Colony 9th Street, both at Rs 4,100 per sq.ft, and Kamarajar Street Ch-78(M.G.R) at Rs 3,300 per sq.ft.

What is the stamp duty rate in Kamaraj Colony Block 80?

The stamp duty rate for properties in Kamaraj Colony Block 80 is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kamaraj Colony Block 80 located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.