Guideline Value for Kamaraj Nagar 2nd Street

Kamaraj Nagar 2nd Street guideline value

The current guideline value of Kamaraj Nagar 2nd 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 Street has changed

The guideline value for Kamaraj Nagar 2nd Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it experienced a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,700 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 257%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and there was an 8% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 3,301 per sq.ft, making Kamaraj Nagar 2nd Street's current value below that median.

• Kamaraj Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Kamaraj Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Kamaraj Nagar 1st 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be 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 fees together 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamaraj Nagar 2nd Street?

Kamaraj Nagar 2nd 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 further assistance.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Peravallur. It helps determine the stamp duty and registration fees applicable to the transaction, ensuring that the property is valued appropriately for legal documentation.

When a buyer or seller engages in a property transaction, the guideline value serves as a benchmark for calculating the costs associated with registration. It is essential for both parties to be aware of the current guideline value 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 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, with various increases and decreases in between.

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

Kamaraj Nagar 2nd Street is classified as Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.