Guideline Value for Kamaraj Nagar 12th Street

Kamaraj Nagar 12th Street guideline value

The current guideline value for Kamaraj Nagar 12th Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kamaraj Nagar 12th Street has changed

The guideline value for Kamaraj Nagar 12th Street has seen several revisions over the years. The earliest recorded figure was Rs 804 per sq.ft in 2017. This value increased to Rs 1,200 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 sets the guideline value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Kamaraj Nagar 12th Street's 2024 figure is below this median.

• Kamaraj Nagar 11th Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar 10th Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Kamaraj Nagar 12th Street?

The Kamaraj Nagar 12th Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value of properties for registration purposes, ensuring that transactions are recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 12th Street?

The current guideline value of Kamaraj Nagar 12th Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024. This represents an overall increase of 62% from 2017 to 2024.

What is the land classification for Kamaraj Nagar 12th Street?

Kamaraj Nagar 12th Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft property, the total fees can amount to Rs 1,17,000.

Where is the Sub Registrar Office for Kamaraj Nagar 12th Street located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. This office handles all registrations for properties in Kamaraj Nagar 12th Street.