Guideline Value for Kamaraj Street

Kamaraj Street guideline value

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

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 value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. The next revision in 2017 saw a significant rise to Rs 1,474 per sq.ft, followed by another increase to Rs 2,200 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,420 per sq.ft. The register has no figures for the years 2002 and 2012 for this street.

From 2023 to 2024, the guideline value increased by 10%. Between 2017 and 2023, there was a 49% rise, while the jump from 2007 to 2017 was a substantial 321%. The increase from 2003 to 2007 was 12%. Overall, from 2003 to 2024, the guideline value has risen by 676%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, which is equal to the guideline value of Kamaraj Street.

• Kambar Street: Rs 2,420 per sq.ft (2024)
• Kaklenjchavadi/Yadhaval Street: Rs 2,200 per sq.ft (2024)
• Kakelanjchavadi 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Kakelanjchavadi 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Kakelanjchavadi 1st Cross Street: Rs 2,420 per sq.ft (2024)
• Karikalan Street: Rs 2,420 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 be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, resulting in a total of Rs 2,17,800. 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?

The Sub Registrar Office that covers Kamaraj Street is 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 Thiruneermalai

The guideline value is an essential factor when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees during the transaction.

When a property is sold, the guideline value helps ensure that the transaction reflects a fair value in accordance with government regulations. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

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 312 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of 676% over this period.

What is the land classification of Kamaraj Street?

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

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

The Sub Registrar Office for Kamaraj Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kamaraj Street?

Stamp duty for properties in Kamaraj Street is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 24,20,000 incurs a stamp duty of Rs 1,69,400 at 7%.