Guideline Value for Kamaraj Street / Gokulam Colony

Kamaraj Street / Gokulam Colony guideline value

The current guideline value for Kamaraj Street / Gokulam Colony is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Kamaraj Street / Gokulam Colony has changed

The guideline value for Kamaraj Street / Gokulam Colony has undergone several revisions since 2002. The value started at Rs 200 per sq.ft in 2002 and saw an increase to Rs 226 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, which represented a 59% increase. Following this, the guideline value surged to Rs 1,675 per sq.ft in 2017, reflecting a significant increase of 365%. In 2023, the value further increased to Rs 2,500 per sq.ft, a 49% rise from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, resulting in a 10% increase from 2023.

It is important to note that the register has no figure for Kamaraj Street / Gokulam Colony in 2012. Overall, from 2002 to 2024, the guideline value has increased by 1,275%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Kamaraj Street / Gokulam Colony's 2024 figure above that median.

• Kamaraj Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Kamaraj Street / Muvendar Nagar: Rs 1,980 per sq.ft (2024)
• Kamaraj Street/Nagalkeni: Rs 1,980 per sq.ft (2024)
• Kamaraj Street / Ponni Nagar: Rs 1,980 per sq.ft (2024)
• Kamaraj Ngar, Thiruneermalai Road: Rs 1,980 per sq.ft (2024)
• Kamaraj Nagar (3rd Street): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Street / Gokulam Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, resulting in a total of Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kamaraj Street / Gokulam Colony?

The Sub Registrar Office that covers Kamaraj Street / Gokulam Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Pammal, as it determines the minimum value at which a property must be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation set by the government.

It is important for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall costs involved in the transaction. Proper understanding of this value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Kamaraj Street / Gokulam Colony?

The current guideline value of Kamaraj Street / Gokulam Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 200 per sq.ft to Rs 2,750 per sq.ft in 2024, representing an overall increase of 1,275%.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Kamaraj Street / Gokulam Colony is 7% of the guideline value or sale price, whichever is higher.

What is the registration fee for properties in this area?

The registration fee for properties in Kamaraj Street / Gokulam Colony is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Kamaraj Street / Gokulam Colony?

The Pammal Sub Registrar Office handles registrations for Kamaraj Street / Gokulam Colony, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.