Guideline Value for Kamaraj Street

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Kolathur village, under the Sembiam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Kamaraj Street has changed

Since the guideline value register began, Kamaraj Street has experienced several revisions. The earliest recorded figure is from 2002, with a guideline value of Rs 262 per sq.ft. This value increased to Rs 285 per sq.ft in 2003, marking a 9% rise. The value then saw a significant jump to Rs 700 per sq.ft in 2007, reflecting a 146% increase. By 2012, the guideline value reached Rs 3,000 per sq.ft, which was a 329% increase from 2007. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The 2023 revision saw it rise again to Rs 3,000 per sq.ft, followed by the latest increase to Rs 3,300 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1160%. There are no figures available for the years between these revisions for Kamaraj Street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Kamaraj Street.

• Kambar Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 2nd 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 guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these costs would total Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Street?

Kamaraj Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kamaraj Street?

The current guideline value of Kamaraj Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 262 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 1160%.

What are the other streets with the same guideline value in Kolathur?

Other streets in Kolathur with the same guideline value of Rs 3,300 per sq.ft include Kambar Nagar 10th Street, Kambar Nagar 11th Street, Kambar Nagar 1st Cross Street, Kambar Nagar 1st Street, Kambar Nagar 2nd Cross Street, and Kambar Nagar 2nd Street.

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

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

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more details by following the provided link.