Guideline Value for Kamaraj Nagar

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar, located in Thandalkazhani village under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Kamaraj Nagar has changed

The guideline value for Kamaraj Nagar has seen several revisions over the years. Starting from Rs 176 per sq.ft in 2002, the value increased to Rs 19 per sq.ft in 2003. The next significant change occurred in 2007, where the value rose to Rs 200 per sq.ft, marking a substantial increase. In 2012, it was revised to Rs 600 per sq.ft, but this was followed by a decrease to Rs 402 per sq.ft in 2017. The value then increased to Rs 600 per sq.ft in 2023, and finally, in 2024, it stands at Rs 660 per sq.ft.

Between the revisions, notable changes include a 953% increase from 2003 to 2007, a 200% rise 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 increased by 275%.

Guideline values in Thandalkazhani

In Thandalkazhani, there are 27 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,750 per sq.ft. The median value is Rs 880 per sq.ft, placing Kamaraj Nagar's 2024 figure below this median.

• Kamarajar Street: Rs 880 per sq.ft (2024)
• Kambar Street: Rs 1,210 per sq.ft (2024)
• Kannadasan Street: Rs 880 per sq.ft (2024)
• Gomathi Nagar In Sivaram city: Rs 2,750 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 1,210 per sq.ft (2024)
• Gnt Road: Rs 2,750 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 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. 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 more detailed calculations.

Which Sub Registrar Office covers Kamaraj Nagar?

The Kamaraj Nagar area falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Thandalkazhani. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value impacts the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 176 per sq.ft in 2002 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 275% over this period.

What is the land classification of Kamaraj Nagar?

Kamaraj Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 59,400, based on the current guideline value of Rs 6,60,000.

Which office handles registrations for Kamaraj Nagar?

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