Guideline Value for Kamaraj Street

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Porunthavakkam village, under the Pallavaram SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - III.

How the guideline value of Kamaraj Street has changed

The guideline value for Kamaraj Street has undergone several revisions over the years. In 2003, the guideline value was Rs 293 per sq.ft, which increased to Rs 400 per sq.ft in 2007. Following this, there was a significant rise to Rs 2,200 per sq.ft in 2012, but it then dropped to Rs 1,474 per sq.ft in 2017. The value saw a substantial increase to Rs 2,200 per sq.ft in 2023, and currently, it stands at Rs 2,420 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 726%. The register has no figure for Kamaraj Street for the year 2002.

Guideline values in Porunthavakkam

In Porunthavakkam, there are 23 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,760 to Rs 4,950 per sq.ft. The median value is Rs 2,420 per sq.ft, which is equal to the current guideline value of Kamaraj Street.

• Kandaswamy Road: Rs 2,420 per sq.ft (2024)
• Kalyaniyammal Street: Rs 2,420 per sq.ft (2024)
• Kalyani Street: Rs 2,420 per sq.ft (2024)
• Kalaivani Street: Rs 2,420 per sq.ft (2024)
• Jemes Street: Rs 2,420 per sq.ft (2024)
• Iyapa Nagar: Rs 1,760 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 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

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. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration process when buying or selling property in Porunthavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid based on the property's value.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and 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 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 293 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of 726% over this period.

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

Other streets in Porunthavakkam with the same 2024 guideline value of Rs 2,420 per sq.ft include Kandaswamy Road, Kalyaniyammal Street, Kalyani Street, Kalaivani Street, and Jemes Street.

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, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kamaraj Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400.