Guideline Value for Kamarajar Main Road

Kamarajar Main Road guideline value

The current guideline value of Kamarajar Main Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This road is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Mixed Special Type - I.

How the guideline value of Kamarajar Main Road has changed

The guideline value for Kamarajar Main Road has seen significant changes over the years. In 2002, the value was Rs 1,188 per sq.ft, which increased to Rs 1,316 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 1,700 per sq.ft in 2007, reflecting a 29% increase. By 2012, the value had jumped to Rs 7,000 per sq.ft, a substantial 312% increase from the previous revision. However, it decreased to Rs 4,690 per sq.ft in 2017, which was a decline of 33%.

From 2017 to 2023, the guideline value increased significantly to Rs 7,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 548%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Kamarajar Main Road is above this median.

• Kamaraj Road: Rs 7,700 per sq.ft (2024)
• Kaliamman Koil Street: Rs 7,700 per sq.ft (2024)
• Kambar Nagar & Kambar Nagar Extension(Ayyavupuram): Rs 3,300 per sq.ft (2024)
• Kanniga Nagar: Rs 3,300 per sq.ft (2024)
• Kanniga Nagar Road: Rs 3,300 per sq.ft (2024)
• Kanniyamman Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. 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 specific calculations based on your property transaction.

Which Sub Registrar Office covers Kamarajar Main Road?

The Kamarajar Main Road falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Virugambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the state. Buyers and sellers must be aware of the guideline value to avoid discrepancies during the registration process.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the state collects the appropriate revenue from property transactions, reflecting the true value of the property in the market.

Frequently asked questions

What is the current guideline value of Kamarajar Main Road?

The current guideline value of Kamarajar Main Road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,188 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 548%.

What is the registration fee for a property on Kamarajar Main Road?

The registration fee is calculated at 2% of the guideline value, which for a property valued at Rs 77,00,000 would be Rs 1,54,000.

Where is the Sub Registrar Office for Kamarajar Main Road located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It ensures that the transaction is recorded at a fair value, based on the current market standards set by the state.