Guideline Value for Kamaraj Nagar 2nd Cross Street

Kamaraj Nagar 2nd Cross Street guideline value

The current guideline value of Kamaraj Nagar 2nd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kamaraj Nagar 2nd Cross Street has changed

The guideline value for Kamaraj Nagar 2nd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, then dropped to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 2,700 per sq.ft. Notably, there are no figures available for the revisions in 2002 and 2003.

From 2007 to 2024, the overall increase in guideline value is 286%. The change from 2012 to 2017 saw a decrease of 33%, while the value surged by 257% from 2007 to 2012. The increase from 2023 to 2024 is 8%, and there was a substantial rise of 49% from 2017 to 2023.

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 value for these streets is Rs 3,301 per sq.ft, placing Kamaraj Nagar 2nd Cross Street below this median.

• Kamaraj Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Kamaraj Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Kamaraj Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Kamaraj Nagar 1st 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 2nd 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 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, bringing the total cost for these fees to 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar 2nd Cross Street?

The Kamaraj Nagar 2nd Cross 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 details.

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

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

When buying or selling a property, the guideline value aids in assessing the transaction's legitimacy and helps both parties understand the property's worth based on the prevailing rates in the area.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 2nd Cross Street?

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

What is the median guideline value in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft, which is higher than the current value of Kamaraj Nagar 2nd Cross Street.

What are the stamp duty and registration fees for properties in Kamaraj Nagar 2nd Cross Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Which office handles property registrations for Kamaraj Nagar 2nd Cross Street?

The Sembiam Sub Registrar Office handles property registrations for Kamaraj Nagar 2nd Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.