Guideline Value for Kamarajar Colony 3rd Street

Kamarajar Colony 3rd Street guideline value

The current guideline value for Kamarajar Colony 3rd 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, classified as Residential Class IV Type - I.

How the guideline value of Kamarajar Colony 3rd Street has changed

The guideline value for Kamarajar Colony 3rd Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 800 per sq.ft. This increased significantly to Rs 3,750 per sq.ft in 2012, marking a 369% rise. The value remained unchanged at Rs 3,750 per sq.ft until the 2023 revision, which saw an increase to Rs 4,100 per sq.ft in 2024, representing a 9% increase.

There are no figures recorded for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 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 in this area is Rs 4,900 per sq.ft, indicating that Kamarajar Colony 3rd Street's 2024 figure is below this median.

• Kamarajar Colony 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, leading to a total cost of Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kamarajar Colony 3rd Street?

The Kamarajar Colony 3rd Street falls under the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for additional information.

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

The guideline value plays a crucial role during property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers should be aware that the guideline value is a key factor in the overall cost of property transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for maintaining transparency in property dealings. This helps to prevent undervaluation and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamarajar Colony 3rd Street?

The current guideline value of Kamarajar Colony 3rd 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 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024. Notable increases occurred in 2012 and 2023, with no changes recorded in certain years.

What are the guideline values for other streets in Kodambakkam?

Other streets in Kodambakkam have guideline values ranging from Rs 4,100 per sq.ft, which is the same as Kamarajar Colony 3rd Street, to higher values. The median value in the area is Rs 4,900 per sq.ft.

What fees are associated with buying property in Kamarajar Colony 3rd Street?

When buying property, you will need to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 3,69,000 in fees.

Where is the Sub Registrar Office for Kamarajar Colony 3rd Street?

The Ashok Nagar Sub Registrar Office, which covers Kamarajar Colony 3rd Street, is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles all registrations for properties in the area.