Guideline Value for Kamaraj Nagar

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Kamaraj Nagar has changed

The guideline value for Kamaraj Nagar has seen several revisions over the years. In 2003, the value was Rs 53 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007, marking a 466% rise. The value then rose to Rs 800 per sq.ft in 2012, a 167% increase, before dropping to Rs 536 per sq.ft in 2017, a decrease of 33%. The next revision in 2023 set the value at Rs 1,000 per sq.ft, reflecting an 87% increase from the previous figure. The most recent revision in 2024 has further increased the guideline value to Rs 1,100 per sq.ft, a 10% rise from 2023.

The register has no figure for Kamaraj Nagar in 2002.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO with 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing Kamaraj Nagar's 2024 figure below that median.

• Kalyan Street: Rs 1,100 per sq.ft (2024)
• Kalki Nagar: Rs 1,100 per sq.ft (2024)
• Kali Street: Rs 1,102 per sq.ft (2024)
• Kanchi Arul Nagar: Rs 1,102 per sq.ft (2024)
• Kanchi Arul Nagar Extn.: Rs 1,102 per sq.ft (2024)
• Kannappasamy 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 rate, the guideline value is 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, totaling Rs 99,000. 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 assistance.

Which Sub Registrar Office covers Kamaraj Nagar?

The Sub Registrar Office that covers 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 Puzhal

The guideline value plays a crucial role when buying or selling property in Puzhal. It is used to determine the stamp duty and registration fees that are applicable during the registration process. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to understand the current guideline value to make informed decisions during the transaction.

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 increased from Rs 53 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, showing a significant overall increase of 1975% over the years.

What is the land classification for Kamaraj Nagar?

Kamaraj Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

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 1,000 sq.ft plot, the total fees would amount to Rs 99,000.

Which office handles property registrations in Kamaraj Nagar?

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