Guideline Value for Kamaraj Nagar 7th Street

Kamaraj Nagar 7th Street guideline value

The current guideline value of Kamaraj Nagar 7th 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 7th Street has changed

The guideline value for Kamaraj Nagar 7th 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, there was a decrease to Rs 3,350 per sq.ft in 2017. The value then increased to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision.

The changes between these revisions are notable. From 2002 to 2003, the increase was +9%. The value surged by +71% from 2003 to 2007, followed by a remarkable +355% increase from 2007 to 2012. After a decrease of -33% from 2012 to 2017, the value rose by +49% from 2017 to 2023, and finally increased by +10% from 2023 to 2024. Overall, the guideline value has increased by +834% from 2002 to 2024.

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 in this area is Rs 4,400 per sq.ft, placing Kamaraj Nagar 7th Street's current value above that median.

• Kamaraj Nagar 6th 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 7th 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, these fees would total Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar 7th Street?

The Kamaraj Nagar 7th Street is covered by 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 in the registration process when buying or selling property in Saligramam. It serves as the basis for calculating the stamp duty and registration fees that are required at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as determined by the local authorities. This helps maintain transparency and accountability in property transactions.

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 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 are the stamp duty and registration fees for Kamaraj Nagar 7th Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Kamaraj Nagar 7th Street?

The Virugambakkam Sub Registrar Office handles registrations for Kamaraj Nagar 7th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Kamaraj Nagar 7th Street?

Kamaraj Nagar 7th Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.