Guideline Value for Kamaraj Nagar

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar, located in Naravarikuppam village under the Redhills SRO, is Rs 2,200 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Kamaraj Nagar has changed

The guideline value for Kamaraj Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 3,471 per sq.ft, which decreased to Rs 353 per sq.ft in 2003. The subsequent revisions showed an increase, with the 2007 revision at Rs 500 per sq.ft, followed by a significant rise to Rs 2,000 per sq.ft in 2012. The 2017 revision marked another increase to Rs 1,340 per sq.ft, which further rose to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in 2024.

Between these revisions, notable changes include a 90% decrease from 2002 to 2003, a 42% increase from 2003 to 2007, a 300% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has decreased by 37%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. Kamaraj Nagar's 2024 guideline value of Rs 2,200 per sq.ft is above this median.

• Kalaivani Street: Rs 1,320 per sq.ft (2024)
• Kalaivanar Street Lane: Rs 1,320 per sq.ft (2024)
• Kalaivanar Street: Rs 1,320 per sq.ft (2024)
• Kaalvai Street: Rs 1,320 per sq.ft (2024)
• Jeevarathinam Street: Rs 1,320 per sq.ft (2024)
• Jeevanandam Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamaraj Nagar?

The Sub Registrar Office covering Kamaraj Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction reflects a fair value as per government standards.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

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 has the guideline value changed over the years?

The guideline value has changed from Rs 3,471 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting a 37% overall decrease over the years.

What is the land classification for Kamaraj Nagar?

Kamaraj Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where can I find the Sub Registrar Office for Kamaraj Nagar?

The Sub Registrar Office for Kamaraj Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.