Guideline Value for Kamaraj Nagar Main Road

Kamaraj Nagar Main Road guideline value

The current guideline value of Kamaraj Nagar Main Road is Rs 1,900 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village, under the Selaiyur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Kamaraj Nagar Main Road has changed

The guideline value for Kamaraj Nagar Main Road has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was set at Rs 1,800 per sq.ft. This value saw a decrease to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. However, in the subsequent revision in 2023, the value increased significantly to Rs 1,800 per sq.ft, and further rose to Rs 1,900 per sq.ft in 2024, reflecting a 6% increase.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%, showcasing the fluctuations in property valuation over the years.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for the village is Rs 2,400 per sq.ft, placing Kamaraj Nagar Main Road's 2024 figure below this median.

• Kamaraj Nagar 3rd Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 1st Cross Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar Main Road?

The Kamaraj Nagar Main Road falls under the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor in determining the registration fees and stamp duty when buying or selling property in Madambakkam. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar Main Road?

The current guideline value of Kamaraj Nagar Main Road is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

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, while the registration fee is 2% of the same value.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, with Kamaraj Nagar Main Road's 2024 figure being below this median.