Guideline Value for Kamarajapuram 1st Street

Kamarajapuram 1st Street guideline value

The current guideline value of Kamarajapuram 1st Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kamarajapuram 1st Street has changed

The guideline value for Kamarajapuram 1st Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,800 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 206%. However, by 2017, the value dropped to Rs 3,685 per sq.ft, a decrease of 33%. The value then rose again to Rs 5,500 per sq.ft in 2023, and currently stands at Rs 6,000 per sq.ft after the 2024 revision, reflecting a 9% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for Kamarajapuram 1st Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 233%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means Kamarajapuram 1st Street's 2024 figure is below that median.

• Kamarajapuram 2nd Street: Rs 6,000 per sq.ft (2024)
• Kamarajapuram 3rd Street: Rs 6,000 per sq.ft (2024)
• Kamarajapuram 4th Street: Rs 6,000 per sq.ft (2024)
• Kamarajapuram 5th Street: Rs 6,000 per sq.ft (2024)
• Kamarajapuram 6th Street: Rs 6,000 per sq.ft (2024)
• Kamala Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamarajapuram 1st Street?

Kamarajapuram 1st Street is covered by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Nungambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is often used as a benchmark for the transaction price.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kamarajapuram 1st Street?

The current guideline value of Kamarajapuram 1st Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, representing an overall increase of 233%.

What is the land classification of Kamarajapuram 1st Street?

Kamarajapuram 1st Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 5,40,000.

Which office handles the registration for Kamarajapuram 1st Street?

The registration for Kamarajapuram 1st Street is handled by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.