Guideline Value for Kamaraj Street

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Issa Pallavaram village, under the Pallavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Kamaraj Street has changed

The guideline value for Kamaraj Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 205 per sq.ft. This value increased to Rs 400 per sq.ft in 2007, marking a significant rise of 95%. In 2012, the value remained at Rs 2,000 per sq.ft, which was a substantial increase of 400% from the previous revision. However, in 2017, it dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 973%. It is important to note that the register has no figure for Kamaraj Street for the year 2002.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Kamaraj Street's 2024 guideline value is below this median.

• Kamaraj Nagar (1 To 4 Streets): Rs 2,200 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,200 per sq.ft (2024)
• Kambar Street: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil Street (PART): Rs 2,200 per sq.ft (2024)
• Kannan Street: Rs 2,200 per sq.ft (2024)
• Kaji Saheb 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Issa Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Kamaraj Street?

The current guideline value of Kamaraj Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 205 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 973% over this period.

What is the land classification of Kamaraj Street?

Kamaraj Street is classified under Residential Class II Type - I, which indicates its suitability for residential development.

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

The Sub Registrar Office covering Kamaraj Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,98,000.