Guideline Value for Kamaraj Nagar 2nd Street (100 Ft. Bye-Pass Road)

Kamaraj Nagar 2nd Street (100 Ft. Bye-Pass Road) guideline value

The current guideline value of Kamaraj Nagar 2nd Street (100 Ft. Bye-Pass Road) is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Kamaraj Nagar 2nd Street (100 Ft. Bye-Pass Road) has changed

The guideline value for Kamaraj Nagar 2nd Street has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 12,000 per sq.ft in 2012, marking a rise of 500%. However, the value dropped to Rs 8,040 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 12,000 per sq.ft in 2023, reflecting a 49% increase, and further increased to Rs 13,200 per sq.ft in 2024, a 10% rise.

The guideline value register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, positioning Kamaraj Nagar 2nd Street's 2024 figure above that median.

• Kamarajar Street (Gandhi Salai): Rs 4,400 per sq.ft (2024)
• Kamarajar Street, Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Kamarajar Street: Rs 3,850 per sq.ft (2024)
• Kamatchi Amman Street: Rs 3,850 per sq.ft (2024)
• Kamatchi Amman Street / Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Kamatchi Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 2nd Street (100 Ft. Bye-Pass Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar 2nd Street (100 Ft. Bye-Pass Road)?

The Sub Registrar Office covering Kamaraj Nagar 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Velachery, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair price, helping to maintain transparency in the real estate market. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

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

The current guideline value of Kamaraj Nagar 2nd Street (100 Ft. Bye-Pass Road) is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,000 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 560% over the years.

What is the land classification for Kamaraj Nagar 2nd Street?

Kamaraj Nagar 2nd Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

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

The Velacheri Sub Registrar Office handles property registrations for Kamaraj Nagar 2nd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Kamaraj Nagar 2nd Street?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 1,32,00,000 incurs a stamp duty of Rs 9,24,000.