Guideline Value for Kamarajar 1st Street

Kamarajar 1st Street guideline value

The current guideline value of Kamarajar 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the jurisdiction of the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kamarajar 1st Street has changed

The guideline value for Kamarajar 1st Street has changed several times over the years. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking a rise of 157%. However, from 2012 to 2017, the value decreased to Rs 1,206 per sq.ft, a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 1,800 per sq.ft, and the latest revision in 2024 has increased it further to Rs 1,900 per sq.ft, reflecting a 6% increase.

There are no figures available for the years 2002 and 2003 in the register for Kamarajar 1st Street. Overall, from 2007 to 2024, the guideline value has increased by 171%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Kamarajar 1st Street's 2024 figure of Rs 1,900 per sq.ft is below this median.

• Kamarajar 2nd Street: Rs 1,900 per sq.ft (2024)
• Kalyani Avenue: Rs 1,900 per sq.ft (2024)
• Kalyana Sundara Mudaliar Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Street: Rs 1,900 per sq.ft (2024)
• Kambar Street: Rs 1,900 per sq.ft (2024)
• Kabilar Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar 1st Street?

The Sub Registrar Office that covers Kamarajar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Sembiam. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When a buyer or seller approaches the SRO for registration, the guideline value helps in calculating the applicable stamp duty and registration fees. This process ensures transparency and compliance with legal requirements in property transactions.

Frequently asked questions

What is the current guideline value of Kamarajar 1st Street?

The current guideline value of Kamarajar 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 700 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, which represents a total increase of 171% over this period.

What is the land classification of Kamarajar 1st Street?

Kamarajar 1st Street is classified as Residential Class II Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property in Kamarajar 1st Street?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles the registration for Kamarajar 1st Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, is responsible for handling the registration of properties in Kamarajar 1st Street.