Guideline Value for Kamaraj Street II Cross Street

Kamaraj Street II Cross Street guideline value

The current guideline value of Kamaraj Street II Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Mannurpet village under the Konnur SRO, classified as Residential Class III Type - I.

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

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in the 2017 revision, reflecting a change of -33%. The value then increased significantly to Rs 1,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,100 per sq.ft in the 2024 revision, marking a +10% change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in the guideline value is +10%. The increase from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024 represents a total increase of +49% over that period.

Guideline values in Mannurpet

Mannurpet village has 38 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,600 per sq.ft, with a median value of Rs 1,300 per sq.ft. Kamaraj Street II Cross Street's 2024 guideline value is below this median.

• Kamaraj Street I 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 II Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the 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, totaling 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 on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Street II Cross Street?

The Kamaraj Street II Cross Street falls under the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Mannurpet. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must consider this value to understand the financial implications of their transactions.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable duties. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

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

The current guideline value of Kamaraj Street II 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 seen several revisions, with the most recent being an increase from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

Where can I find the registration office for Kamaraj Street II Cross Street?

The registration office for Kamaraj Street II Cross Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the stamp duty rate for properties in Kamaraj Street II Cross Street?

The stamp duty rate for properties in Kamaraj Street II Cross Street is 7% of the guideline value or the sale price, whichever is higher.

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

Kamaraj Street II Cross Street is classified as Residential Class III Type - I, indicating its designation for residential use under the local regulations.