Guideline Value for Kamarajapuram Gandhi Street

Kamarajapuram Gandhi Street guideline value

The current guideline value of Kamarajapuram Gandhi Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class I Type - III.

How the guideline value of Kamarajapuram Gandhi Street has changed

The guideline value for Kamarajapuram Gandhi Street has undergone several revisions over the years. The earliest figure available is from the 2012 revision, which was set at Rs 5,000 per sq.ft. This was followed by a decrease to Rs 3,350 per sq.ft in the 2017 revision. However, the most recent revision in 2024 shows a significant increase to Rs 5,500 per sq.ft.

Between the 2017 and 2024 revisions, there was an increase of 64%. In contrast, the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Kamarajapuram Gandhi Street's 2024 figure above this median.

• Kamarajapuram, Gangai Amman Koil Street: Rs 5,500 per sq.ft (2024)
• Kamarajapuram, Kumaran Street: Rs 5,500 per sq.ft (2024)
• Kamarajapuram (100 Ft. Bye-Pass Road): Rs 13,200 per sq.ft (2024)
• Kamarajapuram: Rs 5,500 per sq.ft (2024)
• Kamarajapuram Thittapaguthi Gandhi Street: Rs 5,500 per sq.ft (2024)
• Kamarajar Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajapuram Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamarajapuram Gandhi Street?

The Kamarajapuram Gandhi Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Velachery, as it determines the minimum price at which a property can be registered. Buyers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the transaction reflects the current guideline value to avoid any legal issues. This value serves as a benchmark for transactions, ensuring transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Kamarajapuram Gandhi Street?

The current guideline value of Kamarajapuram Gandhi Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, and then increased to Rs 5,500 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification for Kamarajapuram Gandhi Street?

Kamarajapuram Gandhi Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles registrations for properties in Kamarajapuram Gandhi Street.

How is the stamp duty calculated for properties in Kamarajapuram Gandhi Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000.