Guideline Value for Kamaraj Nagar Cross Street

Kamaraj Nagar Cross Street guideline value

The current guideline value of Kamaraj Nagar Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kamaraj Nagar Cross Street has changed

The guideline value for Kamaraj Nagar Cross Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 2,300 per sq.ft. This was followed by a decrease to Rs 1,541 per sq.ft in 2017. The subsequent revision in 2023 saw an increase to Rs 2,300 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 2,500 per sq.ft.

Between the revisions, there have been significant changes. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 9% increase, leading to an overall increase of 9% from 2012 to 2024.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, which is equal to the current guideline value of Kamaraj Nagar Cross Street.

• Kamaraj Street: Rs 2,500 per sq.ft (2024)
• Kamatchi 1st Street: Rs 1,900 per sq.ft (2024)
• Kamatchi 2nd Street: Rs 1,900 per sq.ft (2024)
• Kamatchi 3rd Street: Rs 1,900 per sq.ft (2024)
• Kamatchi 4th Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Lane: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty is charged at 7%, totaling Rs 1,75,000, and the registration fee is 2%, amounting to Rs 50,000. Together, the total fees would be Rs 2,25,000. 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 Cross Street?

The Sub Registrar Office that covers Kamaraj Nagar Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Erukancherry. It determines the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the applicable stamp duty, which is an essential part of the registration process.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar Cross Street?

The current guideline value of Kamaraj Nagar Cross Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Kamaraj Nagar Cross Street?

Kamaraj Nagar Cross Street is classified as Residential Class III Type - I under the guidelines set by the Madhavaram SRO.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 and a registration fee of Rs 50,000.

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

The Madhavaram Sub Registrar Office covers Kamaraj Nagar Cross Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.