Guideline Value for Kamaraj Nagar (2nd Street)

Kamaraj Nagar (2nd Street) guideline value

The current guideline value for Kamaraj Nagar (2nd Street) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kamaraj Nagar (2nd Street) has changed

The guideline value for Kamaraj Nagar (2nd Street) has seen significant changes over the years. The earliest recorded value was Rs 200 per sq.ft in 2002, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, a 59% increase, followed by a substantial jump to Rs 1,206 per sq.ft in 2017, which was a 235% increase. The register has no figure for this street in 2012.

From 2017 to 2023, the guideline value increased to Rs 1,800 per sq.ft, reflecting a 49% change. The most recent revision in 2024 raised the value to Rs 1,980 per sq.ft, a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 890%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median value for these streets is Rs 2,090 per sq.ft, indicating that Kamaraj Nagar (2nd Street) is below this median value.

• Kamaraj Nagar (3rd Street): Rs 1,980 per sq.ft (2024)
• Kamaraj Nagar (1st Street): Rs 1,980 per sq.ft (2024)
• Kamaraj Ngar, Thiruneermalai Road: Rs 1,980 per sq.ft (2024)
• Kamaraj High Road / Pammal Main Road: Rs 3,300 per sq.ft (2024)
• Kamaraj Street / Gokulam Colony: Rs 2,750 per sq.ft (2024)
• Kamaraj Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar (2nd Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. 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 more details.

Which Sub Registrar Office covers Kamaraj Nagar (2nd Street)?

The Sub Registrar Office that covers Kamaraj Nagar (2nd Street) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer purchases property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar (2nd Street)?

The current guideline value of Kamaraj Nagar (2nd Street) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890% over the years.

What is the stamp duty rate applicable in Kamaraj Nagar (2nd Street)?

The stamp duty rate applicable in Kamaraj Nagar (2nd Street) is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kamaraj Nagar (2nd Street)?

The Sub Registrar Office for Kamaraj Nagar (2nd Street) is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration, ensuring that the appropriate stamp duty and registration fees are collected based on the higher of the guideline value or the sale price.