Guideline Value for Kamarajapuram 2nd Street

Kamarajapuram 2nd Street guideline value

The current guideline value of Kamarajapuram 2nd 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 2nd Street has changed

The guideline value for Kamarajapuram 2nd Street has seen several revisions over the years. In 2007, the value was set at Rs 1,800 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a 206% rise. However, from 2012 to 2017, the value decreased to Rs 3,685 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 5,500 per sq.ft in 2023, a 49% increase. The most recent revision in 2024 set the guideline value at Rs 6,000 per sq.ft, which is a 9% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Nungambakkam

Nungambakkam village has a total of 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value range from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Kamarajapuram 2nd Street's 2024 figure below that median.

• Kamarajapuram 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total cost for these fees Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajapuram 2nd Street?

Kamarajapuram 2nd 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. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Nungambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The value is set by the government and is periodically revised to reflect market conditions.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamarajapuram 2nd Street?

The current guideline value of Kamarajapuram 2nd 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, reflecting an overall increase of 233% over the years.

What is the median guideline value in Nungambakkam?

The median guideline value in Nungambakkam is Rs 8,800 per sq.ft, which is higher than the current value of Kamarajapuram 2nd Street.

What are the stamp duty and registration fees for Kamarajapuram 2nd Street?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which office registers properties in Kamarajapuram 2nd Street?

The Chennai Central Joint II Sub Registrar Office registers properties in Kamarajapuram 2nd Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.