Guideline Value for Kamarajar 2nd Street

Kamarajar 2nd Street guideline value

The current guideline value of Kamarajar 2nd Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kamarajar 2nd Street has changed

The guideline value for Kamarajar 2nd Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, it then decreased to Rs 1,206 per sq.ft in 2017. The value rose again to Rs 1,800 per sq.ft in 2023 and has now reached Rs 1,900 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 171%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO, with guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Kamarajar 2nd Street's 2024 figure below that median.

• Kamarajar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees together 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar 2nd Street?

The Sub Registrar Office that covers Kamarajar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

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

When buying or selling property, it is essential to be aware of the guideline value as it may impact the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Kamarajar 2nd Street?

The current guideline value of Kamarajar 2nd 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 700 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 171% over the years.

What are the stamp duty and registration fees for properties in Kamarajar 2nd 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 property registrations for Kamarajar 2nd Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registrations for Kamarajar 2nd Street.

What is the classification of Kamarajar 2nd Street?

Kamarajar 2nd Street is classified as Residential Class II Type - I according to the guideline value register.