Guideline Value for Kamaraj Nagar I Street

Kamaraj Nagar I Street guideline value

The current guideline value of Kamaraj Nagar I Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Mannurpet village and falls under the Konnur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kamaraj Nagar I Street has changed

The guideline value for Kamaraj Nagar I Street has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure decreased by 33% to Rs 670 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Between 2017 and 2023, there was a significant increase of 49%, bringing the value back to the 2012 level. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mannurpet

Mannurpet village has 38 streets under the Konnur SRO, with guideline values ranging from Rs 1,100 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, indicating that Kamaraj Nagar I Street's 2024 figure is below this median.

• Kamaraj Nagar II Street: Rs 1,100 per sq.ft (2024)
• Kamaraj Street: Rs 1,100 per sq.ft (2024)
• Kamaraj Street I Cross Street: Rs 1,100 per sq.ft (2024)
• Kamaraj Street II Cross Street: Rs 1,100 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,100 per sq.ft (2024)
• Ishravel Nagar: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. Please note that the 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 I Street?

The Kamaraj Nagar I Street falls under the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Mannurpet. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value ensures that the government collects appropriate fees based on the assessed worth of the property.

When selling property, the guideline value can also influence the sale price, as it provides a benchmark for both buyers and sellers. It is crucial for both parties to be aware of the current guideline value to ensure a smooth transaction process.

Frequently asked questions

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

The current guideline value of Kamaraj Nagar I Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Mannurpet?

The median guideline value for the streets in Mannurpet is Rs 1,300 per sq.ft, which means Kamaraj Nagar I Street's 2024 figure is below this median.

What are the stamp duty and registration fees for property in Kamaraj Nagar I Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office is responsible for Kamaraj Nagar I Street?

The Konnur Sub Registrar Office covers Kamaraj Nagar I Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.