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 Madambakkam village under the Selaiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Kamarajar 1st Street has changed

The guideline value for Kamarajar 1st Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,800 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 1,206 per sq.ft. Following this, the guideline value increased significantly to Rs 1,800 per sq.ft in 2023, and then to Rs 1,900 per sq.ft in 2024, marking a 6% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a notable decrease of 33%, while from 2017 to 2023, the value increased by 49%. Overall, the guideline value has increased by 6% from 2012 to 2024, reflecting the changes in the market over the years.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft as of 2024. The median guideline value in the village is Rs 2,400 per sq.ft, indicating that Kamarajar 1st Street's current value is below this median.

• Kamarajar 2nd Street: Rs 1,900 per sq.ft (2024)
• Kamarajar 3rd Street: Rs 1,900 per sq.ft (2024)
• Kamarajar Street: Rs 1,900 per sq.ft (2024)
• Kamarajar Street (Chozhen Nagar): Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 1st Cross 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 cost for these fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar 1st Street?

The Kamarajar 1st Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it can influence the overall cost of the transaction. Buyers should be aware that the final amount for duties and fees will be based on the higher of the guideline value or the actual sale price.

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 changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the stamp duty for property in Kamarajar 1st Street?

The stamp duty for property in Kamarajar 1st Street is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, which means Kamarajar 1st Street's current value is below this median.