Guideline Value for Kamaraj Nagar 6th Street

Kamaraj Nagar 6th Street guideline value

The current guideline value of Kamaraj Nagar 6th 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 6th Street has changed

The guideline value for Kamaraj Nagar 6th Street has seen several revisions over the years. The earliest recorded figure in 2002 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 values then increased to Rs 5,000 per sq.ft in 2023 and are now at Rs 5,500 per sq.ft in 2024.

Between these revisions, the changes varied. From 2002 to 2003, the increase was +9%. The value then surged by +71% from 2003 to 2007. The 2007 to 2012 period saw a decrease of -33%. From 2012 to 2017, there was an increase of +49% leading to the 2023 figure, which then increased by +10% to reach the current value in 2024. Overall, from 2002 to 2024, the guideline value has increased by +834%.

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 is Rs 4,400 per sq.ft, placing Kamaraj Nagar 6th Street's 2024 figure above that median.

• Kamaraj Nagar 7th Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 5th Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 2nd 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 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000. Together, the total fees would be 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar 6th Street?

The Sub Registrar Office that covers Kamaraj Nagar 6th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can also find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Saligramam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is assessed by the government and can vary based on the location and type of property.

When registering a property, the guideline value will be checked against the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 6th Street?

The current guideline value of Kamaraj Nagar 6th 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 significantly from Rs 589 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +834% over this period.

What is the classification of Kamaraj Nagar 6th Street?

Kamaraj Nagar 6th Street is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the higher of the guideline value or sale price, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 4,95,000.

Which office handles the registration of properties in Kamaraj Nagar 6th Street?

The registration of properties in Kamaraj Nagar 6th Street is handled by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.