Guideline Value for Kamaraj Nagar 2nd Street

Kamaraj Nagar 2nd Street guideline value

The current guideline value of Kamaraj Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

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

The guideline value for Kamaraj Nagar 2nd Street has experienced several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, a 10% increase from Rs 3,500 per sq.ft in 2023. Prior to that, the 2017 revision recorded the value at Rs 2,345 per sq.ft, reflecting a significant increase of 49% from the 2012 revision, which was also Rs 3,500 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value saw a decrease of 33%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. This indicates fluctuations in the property value over the years, influenced by various factors.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Kamaraj Nagar 2nd Street's value above this median.

• Kamaraj Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Nagar Ist Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Colony 5th Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Colony 4th Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Colony 3rd Street: Rs 3,850 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total costs together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Kamaraj Nagar 2nd Street?

The Kamaraj Nagar 2nd Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a crucial factor during property registration in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is essential for both buyers and sellers. It is important to be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential issues 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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, showing an overall increase of 10% from 2012 to 2024.

What other streets have the same guideline value?

Other streets in Chitlapakkam, such as Kamaraj Nagar 3rd Street, Kamaraj Nagar 4th Street, and Kamaraj Colony streets, also have a guideline value of Rs 3,850 per sq.ft in 2024.

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

The stamp duty for a property valued at Rs 38,50,000 would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Kamaraj Nagar 2nd Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Kamaraj Nagar 2nd Street, located at No.26, MES Road, East Tambaram, Chennai-600059.