Guideline Value for Kamaraj Nagar 1st Street

Kamaraj Nagar 1st Street guideline value

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

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

The guideline value for Kamaraj Nagar 1st Street has experienced several revisions over the years. Starting from the 2007 revision, the value was Rs 700 per sq.ft. It then increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a 257% increase. However, in the 2017 revision, it dropped to Rs 1,675 per sq.ft, which was a decrease of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, followed by the latest revision in 2024 which set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Peravallur

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

• Kamaraj Nagar 1st Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, together totaling Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamaraj Nagar 1st Street?

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

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

The guideline value is a critical component in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Kamaraj Nagar 1st 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 from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

What are the other streets in Peravallur with the same guideline value?

Other streets in Peravallur with a guideline value of Rs 2,700 per sq.ft include Kamaraj Nagar 1st Cross Street, Kamaraj Nagar 2nd Cross Street, Kamaraj Nagar 2nd Street, Kamaraj Nagar 3rd Cross Street, Kandasamy Salai, and Kannabiran Koil Street.

What is the stamp duty rate for property in Kamaraj Nagar 1st Street?

The stamp duty rate for property in Kamaraj Nagar 1st Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Kamaraj Nagar 1st Street?

The Sembiam Sub Registrar Office handles registrations for Kamaraj Nagar 1st Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.