Guideline Value for Kamaraj Street

Kamaraj Street guideline value

The current guideline value of Kamaraj Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village under the Tambaram Joint 1 SRO and falls under the land classification of Commercial Class I Type - II.

How the guideline value of Kamaraj Street has changed

The guideline value for Kamaraj Street has seen several revisions over the years. In 2002, the guideline value was Rs 623 per sq.ft. This increased to Rs 1,000 per sq.ft in 2003, marking a change of +61%. The value further rose to Rs 2,500 per sq.ft in 2007, showing a significant increase of +150%. However, in 2012, the value decreased to Rs 6,000 per sq.ft, which was a drop of -33%. The guideline value then rose to Rs 4,020 per sq.ft in 2017, reflecting an increase of +49%. In 2023, it was Rs 6,000 per sq.ft before reaching the current value of Rs 6,600 per sq.ft in 2024, which is an increase of +10%.

There are no figures available for the revisions in the years not mentioned in this article. Overall, from 2002 to 2024, the guideline value has increased by +959%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, and Kamaraj Street's current value is above this median.

• Kamatchi Rao Street: Rs 4,400 per sq.ft (2024)
• Kamakshi Nagar: Rs 2,200 per sq.ft (2024)
• Kalyan Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Kalyan Nagar 4th St: Rs 3,300 per sq.ft (2024)
• Kalyan Nagar 4th cross street: Rs 3,300 per sq.ft (2024)
• Kalyan Nagar 3rd St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Tambaram. It serves as a reference point for determining the stamp duty and registration fees applicable during the registration process.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamaraj Street?

The current guideline value of Kamaraj Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 623 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of +959% over the years.

What is the land classification of Kamaraj Street?

Kamaraj Street is classified as Commercial Class I Type - II under the land classification system.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kamaraj Street located?

The Sub Registrar Office for Kamaraj Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.