Guideline Value for Kamarajar Colony 7th Street

Kamarajar Colony 7th Street guideline value

The current guideline value of Kamarajar Colony 7th 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 7th Street has changed

The guideline value for Kamarajar Colony 7th Street has undergone several revisions over the years. The oldest recorded revision is from 2007, where the guideline value was Rs 800 per sq.ft. This figure saw a significant increase in 2012, remaining at Rs 3,750 per sq.ft. The next revision occurred in 2023, where it again remained at Rs 3,750 per sq.ft. The most recent revision in 2024 raised the value to Rs 4,100 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 413%. The revisions for the years 2017, 2003, and 2002 do not have any figures recorded for Kamarajar Colony 7th 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 in this area is Rs 4,900 per sq.ft, indicating that Kamarajar Colony 7th Street's 2024 value is below that median.

• Kamarajar Colony 6th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 8th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 5th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 9th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 4th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 3rd Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Colony 7th 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 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 7th Street?

The Sub Registrar Office that covers Kamarajar Colony 7th Street is 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 more details.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately in the official registers. This value is essential for maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kamarajar Colony 7th Street?

The current guideline value of Kamarajar Colony 7th 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, reflecting an overall increase of 413% over this period.

What are the guideline values of other streets in Kodambakkam?

Other streets in Kodambakkam have a guideline value of Rs 4,100 per sq.ft in 2024, including Kamarajar Colony 6th, 8th, 5th, 9th, 4th, and 3rd Streets.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the same value.

Where can I find the Sub Registrar Office for Kamarajar Colony 7th Street?

The Ashok Nagar Sub Registrar Office covers Kamarajar Colony 7th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.