Guideline Value for Kamarajapuram

Kamarajapuram guideline value

The current guideline value of Kamarajapuram, located in Velachery village under the Velacheri SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - III land classification.

How the guideline value of Kamarajapuram has changed

The guideline value for Kamarajapuram has seen significant changes over the years. In 2002, the value was Rs 333 per sq.ft, which increased to Rs 374 per sq.ft in 2003. Following this, the value rose dramatically to Rs 1,500 per sq.ft in 2007, and then to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The value then increased to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024.

Between these revisions, several notable changes occurred. From 2002 to 2003, the increase was 12%. The value surged by 301% from 2003 to 2007. A significant rise of 233% was recorded from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1552%.

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, with a median of Rs 4,400 per sq.ft. Kamarajapuram's 2024 figure of Rs 5,500 per sq.ft is above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kamarajapuram?

Kamarajapuram 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 plays a crucial role during the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kamarajapuram?

The current guideline value of Kamarajapuram 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 increased significantly from Rs 333 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 1552% over this period.

What is the land classification of Kamarajapuram?

Kamarajapuram is classified as Residential Class I Type - III under the land classification system.

Where is the Velacheri Sub Registrar Office located?

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

How is stamp duty calculated for properties in Kamarajapuram?

Stamp duty for properties in Kamarajapuram is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.