Guideline Value for Kamaraj Street I Cross Street

Kamaraj Street I Cross Street guideline value

The current guideline value of Kamaraj Street I Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Mannurpet village and falls under the Konnur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kamaraj Street I Cross Street has changed

The guideline value for Kamaraj Street I Cross Street has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 670 per sq.ft. However, the value increased significantly in the 2023 revision to Rs 1,000 per sq.ft, and further rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mannurpet

Mannurpet village has a total of 38 streets under the Konnur SRO, with guideline values ranging from Rs 1,100 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, indicating that Kamaraj Street I Cross Street's 2024 figure is below that median.

• Kamaraj Street II Cross Street: Rs 1,100 per sq.ft (2024)
• Kamaraj Street: Rs 1,100 per sq.ft (2024)
• Kamaraj Nagar I Street: Rs 1,100 per sq.ft (2024)
• Kamaraj Nagar II Street: Rs 1,100 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,100 per sq.ft (2024)
• Ishravel Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Street I Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to 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 I Cross Street?

The Kamaraj Street I Cross Street is covered by the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mannurpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kamaraj Street I Cross Street?

The current guideline value of Kamaraj Street I Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Kamaraj Street I Cross Street?

The land classification for Kamaraj Street I Cross Street is Residential Class III Type - I.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Kamaraj Street I Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.