Guideline Value for Kamaraj Street

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Meenambakkam village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Commercial Class I Type - II.

How the guideline value of Kamaraj Street has changed

The guideline value for Kamaraj Street has undergone several revisions over the years. In 2002, the value was Rs 275 per sq.ft, which increased to Rs 321 per sq.ft in 2003, marking a change of +17%. The value saw a significant rise to Rs 935 per sq.ft in 2007, a change of +191%. The 2017 revision brought the value to Rs 2,680 per sq.ft, reflecting a substantial increase of +187%. In 2023, the value further increased to Rs 4,000 per sq.ft, a change of +49%. The latest revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register does not have a figure for Kamaraj Street in 2012. Overall, from 2002 to 2024, the guideline value has increased by +1500%.

Guideline values in Meenambakkam

In Meenambakkam, there are 17 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 8,800 per sq.ft, with the median value being Rs 3,850 per sq.ft. Kamaraj Street's 2024 guideline value of Rs 4,400 per sq.ft is above this median.

• Kasi Garden: Rs 3,850 per sq.ft (2024)
• Kumaran Street: Rs 3,850 per sq.ft (2024)
• G.S.T. Road: Rs 8,800 per sq.ft (2024)
• E.V.R. Street: Rs 4,400 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 1,650 per sq.ft (2024)
• Dr. Ambedkar 3rd Cross Street: Rs 1,650 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamaraj Street?

Kamaraj Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Meenambakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps maintain transparency in property transactions and ensures 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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 275 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of +1500% over the years.

What is the land classification of Kamaraj Street?

Kamaraj Street is classified as Commercial Class I Type - II under the Pammal SRO.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

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

The Pammal Sub Registrar Office covers Kamaraj Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.