Guideline Value for Kamaraj Nagar

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar, located in Konnur village under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Kamaraj Nagar has changed

The guideline value for Kamaraj Nagar has seen several revisions over the years. The 2007 revision recorded a value of Rs 800 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 338%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The subsequent revision in 2023 brought the value up to Rs 3,500 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 3,800 per sq.ft, reflecting a 9% increase.

Between the revisions, the most notable change was from 2017 to 2023, where the value surged by 49%. Overall, from 2007 to 2024, the guideline value has increased by 375%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, which is the same as the current guideline value for Kamaraj Nagar.

• Kamaraj Nagar and Ist Street and 2nd Street: Rs 3,800 per sq.ft (2024)
• Kambar Nagar and the Streets & Cross Street: Rs 6,000 per sq.ft (2024)
• Kambar Nagar Extension & Street: Rs 6,000 per sq.ft (2024)
• Kambar Street: Rs 6,000 per sq.ft (2024)
• Kammankinaru Street: Rs 3,800 per sq.ft (2024)
• Karnan Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000. Together, these fees total Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar?

Kamaraj Nagar falls under the jurisdiction of 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 Konnur

The guideline value is a crucial factor in the registration process for property transactions in Konnur. It serves as a benchmark for determining the minimum value of a property, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 375% over the years.

What are the stamp duty and registration fees for properties in Kamaraj Nagar?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Kamaraj Nagar?

The Konnur Sub Registrar Office handles registrations for Kamaraj Nagar, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value serves as a minimum benchmark for property transactions, ensuring that the appropriate stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price.