Guideline Value for Kamaraj Street

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Neelankarai village is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Kamaraj Street has changed

Looking at the historical revisions, the guideline value for Kamaraj Street was Rs 1,500 per sq.ft in 2023, which increased to Rs 1,700 per sq.ft in the 2024 revision, marking a change of +13%. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, showing a significant increase of +49% to the 2023 figure. The register has no figure for this street in the years 2002, 2003, and 2007.

In 2012, the guideline value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017, reflecting a decrease of -33%. Overall, from 2012 to 2024, the guideline value has increased by +13%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, positioning Kamaraj Street's 2024 figure below that median.

• Kamaraj Nagar: Rs 2,200 per sq.ft (2024)
• Kambar Street: Rs 1,700 per sq.ft (2024)
• Kamarajar Street: Rs 1,700 per sq.ft (2024)
• Kalyani Nagar (near Vaidyalingam Salai): Rs 1,700 per sq.ft (2024)
• Kannaki Street: Rs 1,700 per sq.ft (2024)
• Kalathu Mettu Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Street?

Kamaraj Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kamaraj Street?

The current guideline value of Kamaraj Street is Rs 1,700 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 increase of +13% from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024.

What are the guideline values for other streets in Neelankarai?

Other streets in Neelankarai have varying guideline values, with some streets like Kamaraj Nagar at Rs 2,200 per sq.ft, while others like Kambar Street and Kamarajar Street are at Rs 1,700 per sq.ft.

What is the stamp duty for property in Kamaraj Street?

The stamp duty for a property valued at Rs 17,00,000 in Kamaraj Street would be Rs 1,19,000, calculated at 7% of the guideline value.

Which office handles property registration for Kamaraj Street?

The Neelankarai Sub Registrar Office handles property registration for Kamaraj Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.