Guideline Value for Kamaraj Salai

Kamaraj Salai guideline value

The current guideline value of Kamaraj Salai in Koyakbedu village is Rs 3,300 per sq.ft, effective from the 2024 revision. This area falls under the AnnaNagar Sub Registrar Office and is classified as Residential Class I Type - III.

How the guideline value of Kamaraj Salai has changed

The guideline value for Kamaraj Salai has undergone several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The next revision in 2023 saw a substantial increase to Rs 3,000 per sq.ft, followed by a further rise to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The changes between the revisions reflect fluctuations in the property market, with the most notable increase occurring between 2012 and 2017, followed by significant rises in the subsequent years.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft as of 2024. The median guideline value for this village is Rs 4,400 per sq.ft, placing Kamaraj Salai's current value below this median.

• Kamaraj Street: Rs 3,300 per sq.ft (2024)
• Kambar Street: Rs 3,300 per sq.ft (2024)
• Kanagalingeswarar Koil North Street: Rs 3,300 per sq.ft (2024)
• Kanagasabai Colony: Rs 3,300 per sq.ft (2024)
• Kali Amman Koil Street: Rs 7,700 per sq.ft (2024)
• kathiravan Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty is charged at 7%, resulting in Rs 2,31,000, and the registration fee is 2%, which is Rs 66,000. Together, the total cost for stamp duty and registration fee is Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Salai?

The Kamaraj Salai area is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For further information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees, which are essential costs associated with property transactions.

When a property is sold, the buyer and seller must ensure that the sale price is either equal to or above the guideline value to avoid any legal complications. The registration office uses the guideline value to assess the applicable fees, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kamaraj Salai?

The current guideline value of Kamaraj Salai is Rs 3,300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 230% over the years.

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

The stamp duty for properties in Kamaraj Salai is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Kamaraj Salai?

The AnnaNagar Sub Registrar Office handles property registrations for Kamaraj Salai, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

The guideline value is significant as it determines the stamp duty and registration fees during property transactions, ensuring that both buyers and sellers comply with legal requirements.