Guideline Value for Kamaraj Street

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Sembiam village is Rs 1,900 per sq.ft, effective from 1 July 2024. This street falls under the Sembiam Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Kamaraj Street has changed

The guideline value for Kamaraj Street has seen several revisions over the years. In 2002, the value was Rs 341 per sq.ft, which increased to Rs 370 per sq.ft in 2003. The value then rose significantly to Rs 700 per sq.ft in 2007, followed by a jump to Rs 1,800 per sq.ft in 2012. However, it decreased to Rs 1,206 per sq.ft in 2017. The value increased again to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,900 per sq.ft from the 2024 revision.

Between these revisions, notable changes include an increase of 6% from 2023 to 2024, a substantial rise of 49% from 2017 to 2023, and a decrease of 33% from 2012 to 2017. The increase from 2007 to 2012 was 157%, while the rise from 2003 to 2007 was 89%. Overall, from 2002 to 2024, the guideline value has increased by 457%. There are no figures available for the revisions in years not listed.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Kamaraj Street is below this median.

• Kambar Street: Rs 1,900 per sq.ft (2024)
• Kamarajar 2nd Street: Rs 1,900 per sq.ft (2024)
• Kamarajar 1st Street: Rs 1,900 per sq.ft (2024)
• Kalyani Avenue: Rs 1,900 per sq.ft (2024)
• Kalyana Sundara Mudaliar Street: Rs 1,900 per sq.ft (2024)
• Kabilar Street: Rs 1,900 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 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamaraj Street?

The current guideline value of Kamaraj Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 341 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, with various increases and decreases in between.

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

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

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

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

Other streets in Sembiam with the same guideline value of Rs 1,900 per sq.ft include Kambar Street, Kamarajar 1st Street, Kamarajar 2nd Street, Kalyani Avenue, Kalyana Sundara Mudaliar Street, and Kabilar Street.