Guideline Value for Kamaraj Nagar

Kamaraj Nagar guideline value

The current guideline value of Kamaraj Nagar, located in Navaloor village under the Sriperumpudur SRO, is Rs 300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I 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. The earliest recorded revision is from 2007, where the value was set at Rs 50 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a 500% rise. However, in 2017, the value dropped to Rs 201 per sq.ft, a decrease of 33%. Following this, the value remained unchanged at Rs 300 per sq.ft in both the 2023 and 2024 revisions, resulting in a 49% increase from 2017 to 2023.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 500%.

Guideline values in Navaloor

In Navaloor, there are 26 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 1,100 per sq.ft, with the median value being Rs 300 per sq.ft. Kamaraj Nagar's current guideline value aligns perfectly with this median.

• Kamaraj Nagar Extn: Rs 300 per sq.ft (2024)
• Jeyam Nagar: Rs 200 per sq.ft (2024)
• Kishta Baghavan Street: Rs 200 per sq.ft (2024)
• Jaisakthi Nagar: Rs 300 per sq.ft (2024)
• Main Road: Rs 610 per sq.ft (2024)
• Dr.Chandra City: Rs 450 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Navaloor. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to determine the stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Kamaraj Nagar?

The current guideline value of Kamaraj Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and has remained at Rs 300 per sq.ft in 2023 and 2024.

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

For a property valued at Rs 3,00,000, the stamp duty is Rs 21,000 and the registration fee is Rs 6,000, totaling Rs 27,000.

Which office handles registrations for Kamaraj Nagar?

The Sriperumpudur Sub Registrar Office handles registrations for Kamaraj Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions, ensuring that the appropriate revenue is collected by the government.