Guideline Value for Kamaraj Street

Kamaraj Street guideline value

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

How the guideline value of Kamaraj Street has changed

Over the years, the guideline value of Kamaraj Street has seen several revisions. The earliest recorded figure is from 2007, when the value was Rs 400 per sq.ft. This increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 450%. However, in 2017, the value dropped to Rs 1,474 per sq.ft, a decrease of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from 1 July 2024, reflecting an increase of 10% from the previous year.

It is important to note that there are no recorded figures for Kamaraj Street in the revisions for 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, placing Kamaraj Street's 2024 figure above this median.

• Kambar Street: Rs 2,200 per sq.ft (2024)
• Kannammal Nagar: Rs 2,160 per sq.ft (2024)
• Kakkan Street: Rs 2,200 per sq.ft (2024)
• Kanni Koil Street: Rs 2,160 per sq.ft (2024)
• Karigalan Street: Rs 2,160 per sq.ft (2024)
• Kabali Street: Rs 2,160 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 cost for these fees 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 detailed calculations, you can use the stamp duty and registration fee calculator.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nemilicherry. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the legal requirements set by the state.

When a property is sold or purchased, the guideline value is considered to determine the applicable taxes. This value helps maintain transparency in property dealings and ensures that all transactions are recorded accurately.

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 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What are the other streets in Nemilicherry with similar guideline values?

Other streets in Nemilicherry include Kambar Street and Kakkan Street, both valued at Rs 2,200 per sq.ft, while Kannammal Nagar, Kanni Koil Street, Karigalan Street, and Kabali Street have values ranging from Rs 2,160 per sq.ft.

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 is the Sub Registrar Office for Kamaraj Street located?

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