Guideline Value for Kamaraj Nagar

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Vallam village, under the Chengleput Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Kamaraj Nagar has changed

The guideline value for Kamaraj Nagar has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 850 per sq.ft in 2012. However, this value saw a decline to Rs 569 per sq.ft in 2017. The 2023 revision maintained the value at Rs 850 per sq.ft, which remains unchanged in the 2024 revision.

Between the revisions, the most notable change was from 2017 to 2023, showing an increase of 49%. The overall change from 2007 to 2024 reflects an increase of 325%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Kamaraj Nagar's current guideline value is below this median.

• Madha Koil Street: Rs 750 per sq.ft (2024)
• Mariamman Koil Street: Rs 750 per sq.ft (2024)
• Muthamizh Nagar: Rs 1,000 per sq.ft (2024)
• Narayana Avenue: Rs 1,000 per sq.ft (2024)
• Nehru Nagar: Rs 1,000 per sq.ft (2024)
• BhuvanaSri Nagar: Rs 1,000 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 850 per sq.ft, the guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, totaling Rs 76,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Nagar?

The Sub Registrar Office that covers Kamaraj Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vallam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded accurately for taxation purposes.

When a buyer and seller agree on a sale price, the registration office will use the guideline value to calculate the applicable stamp duty and registration fees. This ensures that all parties comply with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 850 per sq.ft. The value was Rs 569 per sq.ft in 2017, and Rs 200 per sq.ft in 2007.

What are the guideline values of other streets in Vallam?

Other streets in Vallam have guideline values ranging from Rs 750 to Rs 1,000 per sq.ft. For example, Madha Koil Street and Mariamman Koil Street are both valued at Rs 750 per sq.ft in 2024, while Muthamizh Nagar, Narayana Avenue, Nehru Nagar, and BhuvanaSri Nagar are all at Rs 1,000 per sq.ft.

What fees are associated with buying property in Kamaraj Nagar?

When purchasing property in Kamaraj Nagar, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Kamaraj Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can also find more information online.