Guideline Value for Kamaraj Nagar 1st Street

Kamaraj Nagar 1st Street guideline value

The current guideline value of Kamaraj Nagar 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as 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 undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,900 per sq.ft, an increase from Rs 1,800 per sq.ft in 2023, marking a change of +6%. Prior to that, the 2017 revision recorded a value of Rs 1,206 per sq.ft, which reflects a significant increase of +49% from the 2017 figure to the 2023 figure. The register does not contain figures for the years 2002, 2003, and 2007.

In the earlier revisions, the 2012 guideline value was Rs 1,800 per sq.ft, which was a decrease of -33% from the 2017 value. Overall, from 2012 to 2024, the guideline value has seen a modest increase of +6%, with the current rate being below the median guideline value of Rs 2,400 per sq.ft for the 1,151 streets in Madambakkam.

Guideline values in Madambakkam

In Madambakkam, the guideline values range from Rs 1,100 to Rs 6,000 per sq.ft, with the median being Rs 2,400 per sq.ft. The guideline value for Kamaraj Nagar 1st Street is below this median.

• Kamaraj Nagar 1st Cross Street: 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: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000, bringing the total fees together to Rs 1,71,000. 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 details.

Which Sub Registrar Office covers Kamaraj Nagar 1st Street?

The Kamaraj Nagar 1st 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, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, both the buyer and seller must be aware of the guideline value, as it influences the overall transaction costs. The registration office uses this value to assess the applicable fees, which are calculated based on the guideline value or the sale price, whichever is higher.

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2023 to Rs 1,900 per sq.ft in 2024, reflecting a +6% increase. From 2017 to 2023, it increased by +49% from Rs 1,206 per sq.ft.

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

Kamaraj Nagar 1st Street is classified as Residential Class I Type - I, indicating its designation for residential use.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 1,33,000.