Guideline Value for Kamaraj Nagar 2nd Street

Kamaraj Nagar 2nd Street guideline value

The current guideline value of Kamaraj Nagar 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, and the land classification is Residential Special Type - III.

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

The guideline value for Kamaraj Nagar 2nd Street has seen several revisions over the years. In 2002, the value was Rs 589 per sq.ft, which increased to Rs 644 per sq.ft in 2003. The value then rose significantly to Rs 1,100 per sq.ft in 2007, followed by a substantial jump to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The guideline value then increased to Rs 5,000 per sq.ft in 2023 before reaching the current value of Rs 5,500 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The value saw a 355% increase from 2007 to 2012, and a 71% rise from 2003 to 2007. The overall change from 2002 to 2024 is an increase of 834%. There are no figures available for the years not listed in the register for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Kamaraj Nagar 2nd Street's 2024 figure above this median.

• Kamaraj Nagar 3rd Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 1st Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 5th Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 6th Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 7th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar 2nd Street?

The Kamaraj Nagar 2nd Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Saligramam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When engaging in a property transaction, it is essential to be aware of the current guideline value, as it directly influences the costs associated with the registration. Buyers and sellers should ensure they are informed about these values to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Kamaraj Nagar 2nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 589 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, with various increases and decreases across the years.

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

The land classification for Kamaraj Nagar 2nd Street is Residential Special Type - III.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office for Kamaraj Nagar 2nd Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.