Guideline Value for Kamaraj Salai

Kamaraj Salai guideline value

The current guideline value of Kamaraj Salai is Rs 4,400 per sq.ft. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Kamaraj Salai has changed

The guideline value of Kamaraj Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 4,000 per sq.ft, followed by the latest 2024 revision, which raised it to Rs 4,400 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The value then increased by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, placing Kamaraj Salai's 2024 figure above that median.

• Kamaraj Street: Rs 4,400 per sq.ft (2024)
• Kamatchi Amman Street: Rs 3,550 per sq.ft (2024)
• Kambar Salai: Rs 3,100 per sq.ft (2024)
• Kambar Street: Rs 3,100 per sq.ft (2024)
• Kamarajar Road: Rs 3,550 per sq.ft (2024)
• Kamaraj 2nd Street: 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. 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 more information.

Which Sub Registrar Office covers Kamaraj Salai?

Kamaraj Salai falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ramapuram. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value according to government standards.

When you register a property, 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 appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kamaraj Salai?

The current guideline value of Kamaraj Salai is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the median guideline value in Ramapuram?

The median guideline value for the 394 streets in Ramapuram is Rs 3,100 per sq.ft, with Kamaraj Salai's value being above this median.

What are the stamp duty and registration fees for Kamaraj Salai?

For a 1,000 sq.ft property at the guideline value of Rs 4,400 per sq.ft, the total guideline value is Rs 44,00,000. The stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Kamaraj Salai?

The Chennai South Joint II Sub Registrar Office handles registrations for Kamaraj Salai, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.