Guideline Value for Kamaraj Nagar

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar, located in Issa Pallavaram village under the Pallavaram SRO, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II 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. In 2003, the value was Rs 205 per sq.ft, which increased to Rs 400 per sq.ft in 2007. This was followed by a significant jump to Rs 2,000 per sq.ft in 2012, but then it decreased to Rs 1,340 per sq.ft in 2017. The value rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of 2024. The register has no figure for this street in 2002.

Between the revisions, the changes were as follows: from 2003 to 2007, the increase was +95%; from 2007 to 2012, it was +400%; however, from 2012 to 2017, it dropped by -33%. The value then increased by +49% from 2017 to 2023, and finally rose by +10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by +973%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Kamaraj Nagar's 2024 figure is below this median.

• Kamaraj Nagar (1 To 4 Streets): Rs 2,200 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)
• Kambar Street: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil Street (PART): Rs 2,200 per sq.ft (2024)
• Kannan Street: Rs 2,200 per sq.ft (2024)
• Kaji Saheb Street: Rs 3,300 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 2,200 per sq.ft, the total 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 higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kamaraj Nagar?

Kamaraj Nagar falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Issa Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is recorded at a value that reflects the current market conditions as defined by the state's guidelines.

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 increased significantly from Rs 205 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of +973% over this period.

What is the land classification for Kamaraj Nagar?

Kamaraj Nagar is classified as Residential Class II Type - I, which is relevant for determining its guideline value.

What are the stamp duty rates for properties in Kamaraj Nagar?

The stamp duty rate for properties in Kamaraj Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kamaraj Nagar located?

The Pallavaram Sub Registrar Office, which covers Kamaraj Nagar, is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.