Guideline Value for Kamaraj Nagar 1st Cross Street

Kamaraj Nagar 1st Cross Street guideline value

The current guideline value for Kamaraj Nagar 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kamaraj Nagar 1st Cross Street has changed

The guideline value for Kamaraj Nagar 1st Cross Street has seen several revisions over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision marked an increase to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 286%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. Kamaraj Nagar 1st Cross Street's 2024 guideline value is below this median.

• Kamaraj Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Kamaraj Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Kamaraj Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Kandasamy Salai: Rs 2,700 per sq.ft (2024)
• Kannabiran Koil Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. 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 Nagar 1st Cross Street?

The Kamaraj Nagar 1st Cross Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process of property transactions in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 1st Cross Street?

The current guideline value of Kamaraj Nagar 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 286% since 2007.

What is the land classification for Kamaraj Nagar 1st Cross Street?

Kamaraj Nagar 1st Cross Street is classified as Residential Class I Type - I. This classification is important for determining the usage and development of the land.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Kamaraj Nagar 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property with a guideline value of Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.