Guideline Value for Kamarajapuram 3rd Street

Kamarajapuram 3rd Street guideline value

The current guideline value of Kamarajapuram 3rd 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 3rd Street has changed

The guideline value for Kamarajapuram 3rd Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in the 2012 revision, marking a 206% increase. However, the value decreased to Rs 3,685 per sq.ft in the 2017 revision, representing a 33% drop. The value then rose to Rs 5,500 per sq.ft in the 2023 revision, before reaching the current rate of Rs 6,000 per sq.ft in the 2024 revision, which is a 9% increase from the previous year.

It is important to note that there are no figures available for Kamarajapuram 3rd Street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the current 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 have a guideline value for 2024, ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Kamarajapuram 3rd Street is below this median.

• Kamarajapuram 2nd Street: Rs 6,000 per sq.ft (2024)
• Kamarajapuram 4th Street: Rs 6,000 per sq.ft (2024)
• Kamarajapuram 1st 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 3rd 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, making the total fees Rs 5,40,000. It is important to note that 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 3rd Street?

Kamarajapuram 3rd 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 information.

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

The guideline value is a crucial factor when registering property in Nungambakkam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized valuation. Buyers and sellers must consider the guideline value when negotiating sale prices, as it impacts the overall cost of the transaction.

During the registration process, the guideline value helps to determine the legal value of the property being transferred. This value is used to assess the applicable taxes and fees, which are necessary for completing the sale legally.

Frequently asked questions

What is the current guideline value of Kamarajapuram 3rd Street?

The current guideline value of Kamarajapuram 3rd 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 significantly 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 are the stamp duty and registration fees for properties here?

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

Which office handles registrations for Kamarajapuram 3rd Street?

The Chennai Central Joint II Sub Registrar Office handles registrations for Kamarajapuram 3rd Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Kamarajapuram 3rd Street?

Kamarajapuram 3rd Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.