Guideline Value for Kamaraj Nagar

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar in Neelankarai village, under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

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 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,200 per sq.ft.

From 2012 to 2017, there was a significant decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The latest change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which aligns with the current value for Kamaraj Nagar.

• Kamarajar Street: Rs 1,700 per sq.ft (2024)
• Kamaraj Street: Rs 1,700 per sq.ft (2024)
• Kalyani Nagar (near Vaidyalingam Salai): Rs 1,700 per sq.ft (2024)
• Kambar Street: Rs 1,700 per sq.ft (2024)
• Kalathu Mettu Street: Rs 3,300 per sq.ft (2024)
• Kannaki Street: Rs 1,700 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamaraj Nagar?

The Sub Registrar Office that covers Kamaraj Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Neelankarai. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions as set by the government. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically. The most recent revisions for Kamaraj Nagar occurred in 2012, 2017, 2023, and 2024.

What was the guideline value in 2017?

The guideline value of Kamaraj Nagar in 2017 was Rs 1,340 per sq.ft.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Kamaraj Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.