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 Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class I 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. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in 2017. Following this, the 2023 revision raised the value to Rs 1,800 per sq.ft, and the latest revision in 2024 increased it to Rs 1,900 per sq.ft, marking a 6% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. In contrast, the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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. The median value is Rs 2,400 per sq.ft, placing Kamarajar 2nd Street's 2024 figure below this median.

• Kamarajar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 19,00,000. The stamp duty at 7% amounts to Rs 1,33,000, and the registration fee at 2% is Rs 38,000, totaling Rs 1,71,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, 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 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 information.

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

The guideline value is a crucial factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. 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 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 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

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

For a property with a guideline value of Rs 19,00,000, the stamp duty is Rs 1,33,000, and the registration fee is Rs 38,000, totaling Rs 1,71,000.

Which office handles registrations for Kamarajar 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for Kamarajar 2nd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Kamarajar 2nd Street?

Kamarajar 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.