Guideline Value for Kamarajar Colony 8th Street

Kamarajar Colony 8th Street guideline value

The current guideline value of Kamarajar Colony 8th 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 8th Street has changed

The guideline value for Kamarajar Colony 8th Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which set the value at Rs 800 per sq.ft. This figure saw a significant increase in the 2012 revision, where it remained at Rs 3,750 per sq.ft. The next revision in 2023 also maintained this value, but in 2024, the guideline value increased to Rs 4,100 per sq.ft, marking a 9% rise from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 413%. Notably, there are no figures available in the register for the years 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with 2024 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, placing Kamarajar Colony 8th Street's current value below the median.

• Kamarajar Colony 7th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 9th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 6th Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 5th 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 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total cost for these fees to 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 details.

Which Sub Registrar Office covers Kamarajar Colony 8th Street?

The Kamarajar Colony 8th 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. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property 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 from stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is accurately recorded and that the government receives its due taxes from property transactions.

Frequently asked questions

What is the current guideline value of Kamarajar Colony 8th Street?

The current guideline value of Kamarajar Colony 8th 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, an overall increase of 413% over the years.

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

Other streets in Kodambakkam that share the same guideline value of Rs 4,100 per sq.ft in 2024 include Kamarajar Colony 7th, 9th, 6th, 5th, 4th, and 3rd Streets.

What fees are associated with buying property in Kamarajar Colony 8th Street?

When buying property, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kamarajar Colony 8th Street?

The Ashok Nagar Sub Registrar Office covers Kamarajar Colony 8th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.