Guideline Value for Kamaraj Nagar 2nd Street

Kamaraj Nagar 2nd Street guideline value

The current guideline value of Kamaraj Nagar 2nd 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 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. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and finally reached Rs 1,900 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values 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 Street's 2024 figure is below this median.

• Kamaraj Nagar 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 1st Cross Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,900 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 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, bringing the total cost to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Kamaraj Nagar 2nd Street?

The Kamaraj Nagar 2nd Street falls under 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 details.

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

The guideline value is a crucial aspect when registering property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the transaction must be registered at the relevant Sub Registrar Office, and the applicable fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

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 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 increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, indicating that Kamaraj Nagar 2nd Street's value is below this median.

What fees are associated with registering property in Kamaraj Nagar 2nd Street?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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.