Guideline Value for Kamarajar 2nd st ( Ward No.1 )

Kamarajar 2nd st ( Ward No.1 ) guideline value

The current guideline value of Kamarajar 2nd st ( Ward No.1 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Kamarajar 2nd st ( Ward No.1 ) has changed

The guideline value for Kamarajar 2nd st has seen several revisions over the years. The earliest recorded value is from 2012, where it was Rs 1,200 per sq.ft. This value increased to Rs 1,005 per sq.ft in 2017, followed by a significant rise to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 shows an increase to Rs 1,600 per sq.ft, marking a 7% rise from the previous year.

From 2012 to 2017, the value decreased by 16%, but it increased by 49% from 2017 to 2023. Overall, the guideline value has risen by 33% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, meaning that Kamarajar 2nd st's 2024 figure aligns with this median.

• Kamaraj 3rd Cross st ( Ward No.23 ): Rs 1,600 per sq.ft (2024)
• Kamaraj 2nd St. ( Ward No.21 ): Rs 1,600 per sq.ft (2024)
• Kamaraj 2nd Main Rd ( Ward No.23 ): Rs 1,600 per sq.ft (2024)
• Kamaraj 2nd Cross st ( Ward No.23 ): Rs 1,600 per sq.ft (2024)
• Kamarajar Road Cross Street (Periya Sekkadu): Rs 1,600 per sq.ft (2024)
• Kamaraj 1st Cross st ( Ward No.23 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar 2nd st ( Ward No.1 )

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total Rs 1,44,000. It is important to note that 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 Kamarajar 2nd st ( Ward No.1 )?

The Kamarajar 2nd st ( Ward No.1 ) is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are calculated accordingly.

When a property is sold, the guideline value helps to establish a fair price for the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the property registration process.

Frequently asked questions

What is the current guideline value of Kamarajar 2nd st ( Ward No.1 )?

The current guideline value of Kamarajar 2nd st ( Ward No.1 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 33% over this period.

What are the other guideline values in Madhavaram?

In Madhavaram, the guideline values for other streets under the Madhavaram SRO range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft.

What is the stamp duty rate for property in Kamarajar 2nd st ( Ward No.1 )?

The stamp duty rate for property transactions in Kamarajar 2nd st ( Ward No.1 ) is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details by visiting the appropriate link.