Guideline Value for Kamaraj Salai

Kamaraj Salai guideline value

The current guideline value of Kamaraj Salai in Kodungaiyur village is Rs 3,301 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Commercial Class I Type - I.

How the guideline value of Kamaraj Salai has changed

The guideline value for Kamaraj Salai has undergone several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. The value saw a significant increase to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 raised it further to Rs 3,301 per sq.ft.

Between the revisions, there were notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%, and there was a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

Kodungaiyur has 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Kamaraj Salai's 2024 value above this median.

• Kamarasan 1st Street: Rs 2,200 per sq.ft (2024)
• Kamarasan 2nd Street: Rs 2,200 per sq.ft (2024)
• Kamarasan 3rd Street: Rs 2,200 per sq.ft (2024)
• Kamarasan 4th Street: Rs 2,200 per sq.ft (2024)
• Kamarasan 5th Street: Rs 2,200 per sq.ft (2024)
• Kamatchi 1st Street (Kurinji Street): Rs 2,200 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 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. Please 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 detailed calculations.

Which Sub Registrar Office covers Kamaraj Salai?

Kamaraj Salai 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 Kodungaiyur

The guideline value is an essential factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is in accordance with the established rates. This helps maintain transparency and standardization in property transactions within the area.

Frequently asked questions

What is the current guideline value of Kamaraj Salai?

The current guideline value of Kamaraj Salai is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,301 per sq.ft in 2024.

What is the land classification of Kamaraj Salai?

Kamaraj Salai is classified as Commercial Class I Type - I under the land classification system.

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 registrations for Kamaraj Salai?

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