Guideline Value for Kamaraj Nagar 7th Street

Kamaraj Nagar 7th Street guideline value

The current guideline value of Kamaraj Nagar 7th Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Kamaraj Nagar 7th Street has changed

According to the register, there are no figures available for Kamaraj Nagar 7th Street for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 1,200 per sq.ft during the 2023 revision, and it has increased to Rs 1,300 per sq.ft in the 2024 revision, marking an increase of 8%.

The 2024 revision is the most recent update, reflecting the current guideline value. The previous revisions listed do not provide figures for this street, highlighting the importance of the latest updates for property transactions.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO carrying a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Kamaraj Nagar 7th Street is below this median.

• Kamaraj Nagar 6th Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar 8th Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar 9th Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar Main Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar 7th Street?

The Kamaraj Nagar 7th Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

The guideline value is a critical factor in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration 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 in the area.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar 7th Street?

The current guideline value of Kamaraj Nagar 7th Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kamaraj Nagar 7th Street was Rs 1,200 per sq.ft in 2023 and increased to Rs 1,300 per sq.ft in 2024, marking an 8% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft for the year 2024. Kamaraj Nagar 7th Street's guideline value is below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% applies to the transaction value.

Where can I find the Sub Registrar Office for Kamaraj Nagar 7th Street?

The Sub Registrar Office covering Kamaraj Nagar 7th Street is the Royapuram SRO, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.