Guideline Value for Kamarajapuram 4th Street

Kamarajapuram 4th Street guideline value

The current guideline value of Kamarajapuram 4th Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village, under the Chennai Central Joint II SRO, with a land classification of Residential Class IV Type - I.

How the guideline value of Kamarajapuram 4th Street has changed

Over the years, the guideline value for Kamarajapuram 4th Street has seen several revisions. The 2007 revision set the value at Rs 1,800 per sq.ft, which significantly increased to Rs 5,500 per sq.ft in 2012. However, from 2012 to 2017, the value dropped to Rs 3,685 per sq.ft, marking a decrease of 33%. The value then rose to Rs 5,500 per sq.ft in 2023, before reaching the current rate of Rs 6,000 per sq.ft in the 2024 revision, reflecting a 9% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the present 2024 rate, the guideline value has increased by 233%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

Nungambakkam village has a total of 270 streets under the Chennai Central Joint II SRO carrying a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Kamarajapuram 4th Street's 2024 figure below that median.

• Kamarajapuram 3rd Street: Rs 6,000 per sq.ft (2024)
• Kamarajapuram 5th Street: Rs 6,000 per sq.ft (2024)
• Kamarajapuram 2nd Street: Rs 6,000 per sq.ft (2024)
• Kamarajapuram 6th Street: Rs 6,000 per sq.ft (2024)
• Kamarajapuram 1st 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 4th 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, resulting in a total of 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. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamarajapuram 4th Street?

The Kamarajapuram 4th Street falls under 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 further assistance.

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

The guideline value is a critical factor when buying or selling property in Nungambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers should be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to consider the guideline value to ensure compliance with local regulations. This value not only affects the financial aspects of the transaction but also plays a role in the documentation process at the Sub Registrar Office.

Frequently asked questions

What is the current guideline value of Kamarajapuram 4th Street?

The current guideline value of Kamarajapuram 4th 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% since 2007.

What are the stamp duty and registration fees for property in Kamarajapuram 4th 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 Sub Registrar Office is responsible for Kamarajapuram 4th Street?

The Chennai Central Joint II Sub Registrar Office is responsible for Kamarajapuram 4th Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification of Kamarajapuram 4th Street?

Kamarajapuram 4th Street is classified as Residential Class IV Type - I, indicating its designation for residential purposes.