Guideline Value for Kamaraj Street

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Kovilambakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Kamaraj Street has changed

The guideline value for Kamaraj Street has seen significant changes over the years. In 2002, the guideline value was Rs 95 per sq.ft. It increased to Rs 118 per sq.ft in 2003, marking a 24% rise. The value then rose to Rs 350 per sq.ft in 2007, a substantial increase of 197%. Following this, the value surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable 471% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by a further rise to Rs 2,200 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years not mentioned in the provided data. Overall, from 2002 to 2024, the guideline value has increased by 2,216%.

Guideline values in Kovilambakkam

Kovilambakkam has a total of 61 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,610 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Kamaraj Street is below this median.

• Kamarajar Salai 2 And 3rd Street: Rs 2,160 per sq.ft (2024)
• Kalaingar Salai 1 To 4 Streets: Rs 2,160 per sq.ft (2024)
• Kalaignar Salai: Rs 2,200 per sq.ft (2024)
• Karpagam Nagar: Rs 2,750 per sq.ft (2024)
• Kbg Nagar: Rs 2,750 per sq.ft (2024)
• Kolathur Salai: Rs 2,750 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 would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, these fees would total 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. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kamaraj Street?

Kamaraj Street falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kovilambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers need to pay during the registration process.

When a property is sold, the buyer and seller must ensure that the transaction is in line with the guideline value to avoid any legal complications. The registration office will refer to the guideline value to assess the appropriate fees and ensure compliance with local regulations.

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 changed from Rs 95 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2,216%.

What is the land classification of Kamaraj Street?

Kamaraj Street is classified as Residential Class I Type - III.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office 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, a 1,000 sq.ft plot at Rs 2,200 per sq.ft would incur total fees of Rs 1,98,000.