Guideline Value for Kamaraj Street

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Saligramam village, under the Virugambakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

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 660 per sq.ft, which increased to Rs 721 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,770 per sq.ft in 2007, marking an increase of 145%. The value then jumped to Rs 5,000 per sq.ft in 2012, representing a 182% increase. However, it decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024, a 10% increase.

There are no figures available for the revisions between 2017 and 2023, and the register has no figure for this street in the years prior to 2002. Overall, from 2002 to 2024, the guideline value has increased by 733%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, and Kamaraj Street's guideline value is above this median.

• Kamaraj Nagar 7th Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 6th Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 5th Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 5,500 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 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamaraj Street?

The Sub Registrar Office that covers Kamaraj Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded accurately and fairly.

When a property is sold, the buyer must pay stamp duty 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 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 660 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 733% over the years.

What is the median guideline value in Saligramam?

The median guideline value for streets in Saligramam is Rs 4,400 per sq.ft, making Kamaraj Street's value above this median.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 4,95,000 based on the current guideline value.

Where is the Sub Registrar Office for Kamaraj Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, covering Kamaraj Street.