Guideline Value for Kamaraj Nagar

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar, located in Mannurpet village under the Konnur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III 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. In 2002, the guideline value was Rs 153 per sq.ft, which increased to Rs 169 per sq.ft in 2003, marking a 10% rise. The value then surged to Rs 400 per sq.ft in 2007, a significant increase of 137%. By 2012, the value was Rs 1,000 per sq.ft, reflecting a 150% increase from the previous revision. However, it decreased to Rs 670 per sq.ft in 2017, indicating a decline of 33% before rising again to Rs 1,000 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 619%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Mannurpet

Mannurpet village has 38 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,600 per sq.ft, with a median of Rs 1,300 per sq.ft. Kamaraj Nagar's current guideline value is below this median.

• Kamaraj Nagar II Street: Rs 1,100 per sq.ft (2024)
• Kamaraj Nagar I 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)
• Ishravel Nagar: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further details.

Which Sub Registrar Office covers Kamaraj Nagar?

The Kamaraj Nagar area is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, 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 plays a crucial role during property transactions in Mannurpet. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the legal requirements set by the state. When registering a property, the guideline value is used to determine the applicable fees, which must be paid at the time of registration.

Understanding the guideline value is essential for anyone looking to buy or sell property in Kamaraj Nagar. It helps in estimating the total costs involved in the transaction and ensures compliance with local regulations. Buyers should be aware of the current guideline value to make informed decisions during the purchase process.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar 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 153 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 619% over the years.

What is the land classification of Kamaraj Nagar?

Kamaraj Nagar falls under Residential Class III Type - I land classification.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Which office handles registrations for Kamaraj Nagar?

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