Guideline Value for Kamaraj Nagar 5th Street

Kamaraj Nagar 5th Street guideline value

The current guideline value of Kamaraj Nagar 5th 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 is classified as Residential Special Type - III.

How the guideline value of Kamaraj Nagar 5th Street has changed

The guideline value for Kamaraj Nagar 5th 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. Following this, the value rose significantly to Rs 1,100 per sq.ft in 2007, and then to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The value then increased again to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024.

In terms of percentage changes, from 2002 to 2024, the overall increase is +834%. The revision from 2012 to 2017 saw a decrease of -33%, while there was a significant increase of +355% from 2007 to 2012. The value increased by +71% from 2003 to 2007 and by +9% from 2002 to 2003. The most recent change from 2023 to 2024 is an increase of +10%.

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 value for these streets is Rs 4,400 per sq.ft, placing Kamaraj Nagar 5th Street's 2024 figure above this median.

• Kamaraj Nagar 1st Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 3rd 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 5th 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, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar 5th Street?

The Kamaraj Nagar 5th 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 the registration of property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the registration process reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 5th Street?

The current guideline value of Kamaraj Nagar 5th 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, reflecting an overall increase of +834% over the years.

What is the land classification for Kamaraj Nagar 5th Street?

Kamaraj Nagar 5th Street is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for Kamaraj Nagar 5th Street?

The Virugambakkam Sub Registrar Office, which covers Kamaraj Nagar 5th Street, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Kamaraj Nagar 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,85,000.