Guideline Value for Kamarajar Colony 2nd Street

Kamarajar Colony 2nd Street guideline value

The current guideline value of Kamarajar Colony 2nd Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kamarajar Colony 2nd Street has changed

The guideline value has undergone several revisions over the years. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in the 2012 revision. This figure remained unchanged in the 2023 revision, but saw a rise to Rs 4,100 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 239%. Notably, there are no figures available for the years 2002, 2003, and 2017 for Kamarajar Colony 2nd Street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Kamarajar Colony 2nd Street's 2024 figure below that median.

• Kamarajar Colony 3rd Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 4th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 5th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 6th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 7th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 8th Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value is Rs 41,00,000. The stamp duty at 7% amounts to Rs 2,87,000, while the registration fee at 2% totals Rs 82,000. Together, these fees amount to Rs 3,69,000. 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 Colony 2nd Street?

The Kamarajar Colony 2nd Street falls under the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is crucial during the registration process of property transactions in Kodambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official rates set by the government.

Frequently asked questions

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

The current guideline value of Kamarajar Colony 2nd Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 239% over the years.

What is the registration office for Kamarajar Colony 2nd Street?

The registration office for Kamarajar Colony 2nd Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kamarajar Colony 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value incurs a stamp duty of Rs 2,87,000.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Kamarajar Colony 2nd Street's current value being below this median.