Guideline Value for Kamaraj Street

Kamaraj Street guideline value

The current guideline value of Kamaraj Street in Kaspapuram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 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 several revisions over the years. In 2012, the value was Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in 2017. Following this, the value increased significantly to Rs 500 per sq.ft in 2023, and currently stands at Rs 550 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33% in the guideline value. However, from 2017 to 2023, the value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, indicating that Kamaraj Street's 2024 figure is below this median.

• Karunya Street: Rs 550 per sq.ft (2024)
• Kaspapuram Main Road.: Rs 660 per sq.ft (2024)
• Joel Villa: Rs 1,650 per sq.ft (2024)
• Jayalalitha Street: Rs 1,100 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar 2nd Main Road: 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, resulting in a total cost of Rs 49,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kamaraj Street?

The Sub Registrar Office that covers Kamaraj Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kaspapuram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the authorities will assess the guideline value to ensure that the correct fees are collected. This value is used to calculate the stamp duty, which is a percentage of the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kamaraj Street?

The current guideline value of Kamaraj Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and currently to Rs 550 per sq.ft in 2024.

What is the median guideline value in Kaspapuram?

The median guideline value for the 76 streets in Kaspapuram is Rs 1,100 per sq.ft, which is higher than the current value of Kamaraj Street.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 5,50,000, with a stamp duty of Rs 38,500 and a registration fee of Rs 11,000, totaling Rs 49,500.

Where is the Sub Registrar Office for Kamaraj Street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.