Guideline Value for Kamaraj Street

Kamaraj Street guideline value

The current guideline value of Kamaraj Street, Ramapuram village, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Kamaraj Street has changed

The guideline value for Kamaraj Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,000 per sq.ft, and the most recent 2024 revision has further raised it to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Kamaraj Street's 2024 figure of Rs 4,400 per sq.ft is above this median.

• Kamaraj Salai: Rs 4,400 per sq.ft (2024)
• Kamatchi Amman Street: Rs 3,550 per sq.ft (2024)
• Kambar Salai: Rs 3,100 per sq.ft (2024)
• Kambar Street: Rs 3,100 per sq.ft (2024)
• Kamarajar Road: Rs 3,550 per sq.ft (2024)
• Kamaraj 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, together amounting to Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamaraj Street?

The Sub Registrar Office that covers Kamaraj Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is an important factor when buying or selling property in Ramapuram, as it determines the minimum value at which a property can be registered. Buyers must pay stamp duty and registration fees based on this guideline value or the sale price, whichever is higher.

During the registration process, the guideline value helps ensure that the property is valued appropriately for tax purposes. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations when completing a property transaction.

Frequently asked questions

What is the current guideline value of Kamaraj Street?

The current guideline value of Kamaraj Street, Ramapuram village, is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Kamaraj Street?

Kamaraj Street is classified as Residential Special Type - I under the Chennai South Joint II SRO.

What are the stamp duty and registration fees for properties in Kamaraj Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where can I find the Sub Registrar Office for Kamaraj Street?

The Sub Registrar Office for Kamaraj Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.