Guideline Value for Kamaraj Nagar Ist Street

Kamaraj Nagar Ist Street guideline value

The current guideline value of Kamaraj Nagar Ist Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Kamaraj Nagar Ist Street has changed

The guideline value for Kamaraj Nagar Ist Street has seen several revisions over the years. In 2012, the value was Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and then further rose to Rs 3,850 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making the 2024 value of Kamaraj Nagar Ist Street above this median.

• Kamaraj Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Colony 5th Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Colony 4th Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Colony 3rd Street: Rs 3,850 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kamaraj Nagar Ist Street?

The Sub Registrar Office that covers Kamaraj Nagar Ist Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value serves as a reference point for both buyers and sellers, ensuring that the transaction is recorded at a value that reflects the official rates set by the government. This helps in maintaining transparency in property transactions.

Frequently asked questions

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

The current guideline value of Kamaraj Nagar Ist Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for Kamaraj Nagar Ist Street?

The land classification for Kamaraj Nagar Ist Street is Residential Special Type - II.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Kamaraj Nagar Ist Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Kamaraj Nagar Ist Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.