Guideline Value for Kamaraj Nagar

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,600 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 undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft. In 2017, it decreased to Rs 1,005 per sq.ft, marking a decline of 16%. However, the value rebounded significantly in the 2023 revision to Rs 1,500 per sq.ft, which was a 49% increase from 2017. The latest revision in 2024 has further increased the value to Rs 1,600 per sq.ft, representing a 7% rise from the previous year.

It is important to note that 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 33%.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value for Kamaraj Nagar.

• Kamarajar st (Ward No.29): Rs 1,600 per sq.ft (2024)
• Kamarajar Street (Ward-8): Rs 1,600 per sq.ft (2024)
• Kamarajar Street (Ward-25): Rs 1,600 per sq.ft (2024)
• Kamarajar Street (Ward-16): Rs 1,600 per sq.ft (2024)
• Kamarajar Street (Ward-1): Rs 1,600 per sq.ft (2024)
• Kamarajar St, Lakshmipuram (Ward-25): Rs 1,600 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty, charged at 7%, would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, these fees would total Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kamaraj Nagar?

Kamaraj Nagar is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives a fair revenue from property transactions.

When selling property, the guideline value helps determine the minimum price at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 1,200 per sq.ft in 2012, decreased to Rs 1,005 per sq.ft in 2017, increased to Rs 1,500 per sq.ft in 2023, and is currently Rs 1,600 per sq.ft in 2024.

What is the registration office for Kamaraj Nagar?

Kamaraj Nagar falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Kamaraj Nagar?

Stamp duty in Kamaraj Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at 7%.

What are the other streets with the same guideline value in Madhavaram?

Other streets in Madhavaram with the same guideline value of Rs 1,600 per sq.ft include Kamarajar st (Ward No.29), Kamarajar Street (Ward-8), Kamarajar Street (Ward-25), Kamarajar Street (Ward-16), Kamarajar Street (Ward-1), and Kamarajar St, Lakshmipuram (Ward-25).