Guideline Value for Kamaraj Nagar 1st Cross Street

Kamaraj Nagar 1st Cross Street guideline value

The current guideline value of Kamaraj Nagar 1st Cross Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as 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. The oldest recorded figure is from 2012, where the value was Rs 1,800 per sq.ft. In 2017, this value changed to Rs 1,206 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, and then further increased to Rs 1,900 per sq.ft in the 2024 revision, representing a 6% rise.

There are no recorded guideline values for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, placing Kamaraj Nagar 1st Cross Street's 2024 figure below that median.

• Kamaraj Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar Main Road: Rs 1,900 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 1,900 per sq.ft, the total guideline value is Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using our 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO online.

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

The guideline value is a crucial factor in the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

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 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, which means Kamaraj Nagar 1st Cross Street's 2024 figure is below this median.

What are the stamp duty and registration fees for a property in Kamaraj Nagar 1st Cross Street?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles property registrations for Kamaraj Nagar 1st Cross Street?

The Selaiyur Sub Registrar Office handles property registrations for Kamaraj Nagar 1st Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.