Guideline Value for Kamarajar Colony 5th Street

Kamarajar Colony 5th Street guideline value

The current guideline value of Kamarajar Colony 5th Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Kamarajar Colony 5th Street has changed

The guideline value for Kamarajar Colony 5th Street has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012. This figure remained unchanged until the 2023 revision, where it was again Rs 3,750 per sq.ft. The latest revision in 2024 has raised the guideline value to Rs 4,100 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 413%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value 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, making the 2024 figure for Kamarajar Colony 5th Street below this median.

• Kamarajar Colony 4th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 6th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 3rd Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 7th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 2nd 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 5th 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, bringing the total fees together to Rs 3,69,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Colony 5th Street?

The Kamarajar Colony 5th Street is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For more details, you can find your SRO.

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

The guideline value is a crucial factor in the property registration process in Kodambakkam. 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 you buy or sell property, the guideline value influences the transaction by setting the base value for calculating taxes. Buyers should be aware that the stamp duty and registration fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kamarajar Colony 5th Street?

The current guideline value of Kamarajar Colony 5th 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 changed from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, showing an overall increase of 413% over the years.

What are the other streets in Kodambakkam with the same guideline value?

Other streets in Kodambakkam, such as Kamarajar Colony 4th, 6th, 3rd, 7th, 2nd, and 8th Streets, also have the same guideline value of Rs 4,100 per sq.ft in 2024.

What is the registration office for Kamarajar Colony 5th Street?

The registration office for Kamarajar Colony 5th 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?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 41,00,000 would incur a stamp duty of Rs 2,87,000 at a rate of 7%.