Guideline Value for Kamaraj Road

Kamaraj Road guideline value

The current guideline value of Kamaraj Road in Virugambakkam village is Rs 7,700 per sq.ft, effective from the 2024 revision. This street falls under the jurisdiction of the Virugambakkam SRO and is classified as Mixed Special Type - I.

How the guideline value of Kamaraj Road has changed

The guideline value for Kamaraj Road has seen significant changes over the years. In 2002, the guideline value was Rs 1,188 per sq.ft. This increased to Rs 1,316 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 1,700 per sq.ft, reflecting a 29% increase. The next revision in 2012 saw a drop to Rs 7,000 per sq.ft, a decrease of 33%. However, from 2017, the value rose dramatically to Rs 4,690 per sq.ft, which was a 49% increase from the previous revision. The current revision in 2024 has further increased the guideline value to Rs 7,700 per sq.ft, representing a 10% rise from 2023 when it was Rs 7,000 per sq.ft.

It is important to note that there are no figures available for the years between the revisions mentioned above for Kamaraj Road. Overall, from 2002 to 2024, the guideline value has increased by 548%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Kamaraj Road's current guideline value above this median.

• Kambar Nagar & Kambar Nagar Extension(Ayyavupuram): Rs 3,300 per sq.ft (2024)
• Kamarajar Main Road: Rs 7,700 per sq.ft (2024)
• Kaliamman Koil Street: Rs 7,700 per sq.ft (2024)
• Kanniga Nagar: Rs 3,300 per sq.ft (2024)
• Kanniga Nagar Road: Rs 3,300 per sq.ft (2024)
• Kanniyamman Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Road

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamaraj Road?

The Kamaraj Road is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Virugambakkam. It serves as a reference point for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Kamaraj Road?

The current guideline value of Kamaraj Road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,188 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, which is an overall increase of 548%.

What is the land classification for Kamaraj Road?

Kamaraj Road is classified as Mixed Special Type - I, which indicates its use and development potential in the area.

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

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Where is the Sub Registrar Office for Kamaraj Road located?

The Sub Registrar Office covering Kamaraj Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.