Guideline Value for Kamaraj St ( Ward No.16 )

Kamaraj St ( Ward No.16 ) guideline value

The current guideline value of Kamaraj St ( Ward No.16 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kamaraj St ( Ward No.16 ) has changed

The guideline value for Kamaraj St ( Ward No.16 ) has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 1,200 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 25% rise. The latest revision in 2024 has set the value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year. The overall change from 2012 to 2024 is a significant 33% increase.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value of Kamaraj St ( Ward No.16 ).

• Kamaraj st ( Ward No.25 ): Rs 1,600 per sq.ft (2024)
• Kamaraj St Main Rd ( Ward No.23 ): Rs 2,700 per sq.ft (2024)
• Kamaraj School Rd ( Ward No.21 ): Rs 1,600 per sq.ft (2024)
• Kamaraj Salai (Ward-01): Rs 1,600 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 1,300 per sq.ft (2024)
• Kamaraj Nagar (Ward-08): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj St ( Ward No.16 )

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling Rs 1,44,000. 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 details.

Which Sub Registrar Office covers Kamaraj St ( Ward No.16 )?

Kamaraj St ( Ward No.16 ) falls under 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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It determines the stamp duty and registration fees that are applicable, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

When a property is registered, the guideline value serves as a benchmark for calculating these fees. It is important for buyers to be informed about the current guideline value to understand the costs associated with their property transactions in Madhavaram.

Frequently asked questions

What is the current guideline value of Kamaraj St ( Ward No.16 )?

The current guideline value of Kamaraj St ( Ward No.16 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 33% over this period.

What is the stamp duty rate for properties in Kamaraj St ( Ward No.16 )?

The stamp duty rate for properties in Kamaraj St ( Ward No.16 ) is 7% of the guideline value or sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the other streets with similar guideline values in Madhavaram?

Other streets in Madhavaram with similar guideline values include Kamaraj st ( Ward No.25 ), Kamaraj School Rd ( Ward No.21 ), and Kamaraj Nagar ( Ward-08 ), all at Rs 1,600 per sq.ft for 2024.