Guideline Value for Kamaraj Nagar 4th Street

Kamaraj Nagar 4th Street guideline value

The current guideline value of Kamaraj Nagar 4th Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, with a land classification of Residential Special Type - III.

How the guideline value of Kamaraj Nagar 4th Street has changed

The guideline value for Kamaraj Nagar 4th 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 increase to Rs 5,000 per sq.ft in 2012. However, it dropped to Rs 3,350 per sq.ft in 2017 before climbing to Rs 5,000 per sq.ft again in 2023, and finally reaching Rs 5,500 per sq.ft in the 2024 revision.

Notably, the changes between these revisions include a 9% increase from 2002 to 2003, a 71% increase from 2003 to 2007, a 355% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. There are no figures available for other revisions 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, with a median value of Rs 4,400 per sq.ft. Kamaraj Nagar 4th Street's 2024 guideline value of Rs 5,500 per sq.ft is above this median.

• Kamaraj Nagar 3rd 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 2nd Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 7th Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 1st Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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, totaling Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamaraj Nagar 4th Street?

The Kamaraj Nagar 4th Street falls under the jurisdiction of 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 during property registration in Saligramam. It is used to determine the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the buyer typically pays the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 4th Street?

The current guideline value of Kamaraj Nagar 4th 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 undergone several revisions, starting from Rs 589 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Kamaraj Nagar 4th Street?

The land classification for Kamaraj Nagar 4th Street is Residential Special Type - III.

Where is the Virugambakkam Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Kamaraj Nagar 4th Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.