Guideline Value for Kamaraj Nagar

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar, located in Sholavaram village, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Kamaraj Nagar has changed

The guideline value of Kamaraj Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 39 per sq.ft. This figure increased dramatically to Rs 400 per sq.ft in 2007, marking a rise of 926%. Following this, the value rose to Rs 700 per sq.ft in 2012, reflecting a 75% increase. However, it then decreased to Rs 469 per sq.ft in 2017, showing a decline of 33%. The value climbed again to Rs 700 per sq.ft in 2023, and now stands at Rs 770 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1874%. It is noteworthy that the register has no figure for Kamaraj Nagar for the year 2002.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. Kamaraj Nagar's 2024 guideline value of Rs 770 per sq.ft is above this median.

• Kamarajar Street: Rs 550 per sq.ft (2024)
• Kakkan Street: Rs 550 per sq.ft (2024)
• Karunanidhi Street: Rs 550 per sq.ft (2024)
• Kathamba Nagar: Rs 660 per sq.ft (2024)
• Katheja Nagar: Rs 550 per sq.ft (2024)
• Kavaraikula Street: Rs 550 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar?

Kamaraj Nagar is covered by 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 Sholavaram

The guideline value is a crucial factor during property registration in Sholavaram. It is used to determine the stamp duty and registration fees that buyers must pay. This value reflects the government’s assessment of property prices in the area and is updated periodically.

When buying or selling property, the guideline value serves as a benchmark for the transaction. Buyers should be aware that the stamp duty is calculated based on this value or the sale price, whichever is higher, ensuring that the fees reflect the property's worth as assessed by the government.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 39 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting a total increase of 1874% over this period.

What is the stamp duty for properties in Kamaraj Nagar?

The stamp duty for properties in Kamaraj Nagar is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900.

Where is the Redhills Sub Registrar Office located?

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

What are the other streets in Sholavaram with their guideline values?

Other streets in Sholavaram under the Redhills SRO include Kamarajar Street, Kakkan Street, Karunanidhi Street, Kathamba Nagar, Katheja Nagar, and Kavaraikula Street, with values ranging from Rs 550 to Rs 660 per sq.ft in 2024.