Guideline Value for Kamarajapuram, Kumaran Street

Kamarajapuram, Kumaran Street guideline value

The current guideline value of Kamarajapuram, Kumaran 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, Kumaran Street has changed

The guideline value for Kamarajapuram, Kumaran Street has undergone several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which decreased to Rs 3,350 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the guideline value to Rs 5,500 per sq.ft, reflecting a significant rise of 64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street. The changes from the 2012 to 2017 revision showed a decrease of 33% in the guideline value, indicating fluctuations in the property values over the years.

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 guideline value in this area is Rs 4,400 per sq.ft, placing Kamarajapuram, Kumaran Street above the median.

• Kamarajapuram, Gangai Amman Koil Street: Rs 5,500 per sq.ft (2024)
• Kamarajapuram Gandhi Street: Rs 5,500 per sq.ft (2024)
• Kamarajapuram Thittapaguthi Gandhi 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)
• Kamarajar Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajapuram, Kumaran 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, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamarajapuram, Kumaran Street?

The Kamarajapuram, Kumaran Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in official documents.

When a buyer or seller approaches the Velacheri SRO for registration, the guideline value helps in calculating the applicable stamp duty and registration fees, which are mandatory for the completion of the property transfer process.

Frequently asked questions

What is the current guideline value of Kamarajapuram, Kumaran Street?

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

How has the guideline value changed over the years?

Since 2012, 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. The overall change from 2012 to 2024 is an increase of 10%.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000. The duty is based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Kamarajapuram, Kumaran Street?

Kamarajapuram, Kumaran Street is classified as Residential Class I Type - III, indicating its designation for residential purposes within the area.