Guideline Value for Kamaraj Nagar 2nd Cross Street

Kamaraj Nagar 2nd Cross Street guideline value

The current guideline value for Kamaraj Nagar 2nd 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 it falls under the Residential Class I Type - I land classification.

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

The guideline value for Kamaraj Nagar 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was later reduced to Rs 1,206 per sq.ft in the 2017 revision. This represented a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the most recent 2024 revision raised it to Rs 1,900 per sq.ft, marking a 6% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in the village is Rs 2,400 per sq.ft, indicating that Kamaraj Nagar 2nd Cross Street's 2024 figure is below this median.

• Kamaraj Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 1st Cross Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar: 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 2nd 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 amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling 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. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Kamaraj Nagar 2nd Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in 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 is a crucial factor when registering property in Madambakkam. It serves as the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is in compliance with legal requirements.

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 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 land classification for Kamaraj Nagar 2nd Cross Street?

Kamaraj Nagar 2nd Cross Street falls under the Residential Class I Type - I land classification.

Where is the Selaiyur Sub Registrar Office located?

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 do stamp duty and registration fees work in Madambakkam?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue during property transactions.