Guideline Value for Kamaraj Salai (Ward-01)

Kamaraj Salai (Ward-01) guideline value

The current guideline value of Kamaraj Salai (Ward-01) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Kamaraj Salai (Ward-01) has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 25% rise from the previous figure. The most recent revision in 2024 has further increased the value to Rs 1,600 per sq.ft, reflecting a 7% increase from 2023. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 33%, highlighting a steady rise over the years.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value across these streets is Rs 1,600 per sq.ft, which is equal to the guideline value of Kamaraj Salai (Ward-01).

• Kamaraj School Rd (Ward No.21): Rs 1,600 per sq.ft (2024)
• Kamaraj St Main Rd (Ward No.23): Rs 2,700 per sq.ft (2024)
• Kamaraj Nagar (Ward-08): Rs 1,600 per sq.ft (2024)
• Kamaraj Nagar (Vinayagapuram): Rs 1,600 per sq.ft (2024)
• Kamaraj Nagar (Milk Colony): Rs 2,200 per sq.ft (2024)
• Kamaraj St (Ward No.16): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Salai (Ward-01)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Salai (Ward-01)?

The Kamaraj Salai (Ward-01) is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Madhavaram, the guideline value is used to determine the stamp duty and registration fees payable at the time of registration. This value serves as a benchmark for the transaction, ensuring that the fees are calculated based on a standardized assessment of property values in the area.

It is important to note that the guideline value may differ from the actual sale price of the property. The registration office will charge duty based on the higher of the two amounts, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kamaraj Salai (Ward-01)?

The current guideline value of Kamaraj Salai (Ward-01) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has increased from Rs 1,200 per sq.ft to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 33% over the twelve years.

What are the stamp duty and registration fees for property in Kamaraj Salai (Ward-01)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 16,00,000, the total fees would amount to Rs 1,44,000.

Which office handles property registrations for Kamaraj Salai (Ward-01)?

The Madhavaram Sub Registrar Office handles property registrations for Kamaraj Salai (Ward-01), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Kamaraj Salai (Ward-01)?

Kamaraj Salai (Ward-01) is classified as Residential Class II Type - I, indicating its suitability for residential development within the area.