Guideline Value for Kamaraj Colony

Kamaraj Colony guideline value

The current guideline value of Kamaraj Colony, located in Kodambakkam village under the Ashok Nagar SRO, is Rs 4,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Kamaraj Colony has changed

The guideline value of Kamaraj Colony has undergone several revisions over the years. In 2007, the value was set at Rs 800 per sq.ft. This saw a significant increase to Rs 3,750 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 raised the guideline value to Rs 4,100 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been an increase of 413%. Notably, there are no figures available in the register for the years 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with 2024 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's 2024 figure below that median.

• Kamaraj Colony Block 80: 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)
• Kamarajar Colony 9th Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Colony

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, bringing the total to Rs 3,69,000. 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 Colony?

The Sub Registrar Office that covers Kamaraj Colony 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 plays a crucial role in property transactions in Kodambakkam. It is used as a benchmark to determine the minimum value for registration purposes, ensuring that properties are registered at a value that reflects the market conditions set by the government.

When buying or selling property, the guideline value is essential for calculating stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Kamaraj Colony?

The current guideline value of Kamaraj Colony 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 increased from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking a total increase of 413% over the years.

What is the land classification for Kamaraj Colony?

Kamaraj Colony is classified as Residential Class IV Type - I, indicating its designation for residential use.

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

For a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 and the registration fee would be Rs 82,000, totaling Rs 3,69,000.

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

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