Guideline Value for Kamarajar Nagar 2nd street

Kamarajar Nagar 2nd street guideline value

The current guideline value of Kamarajar Nagar 2nd street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - II.

How the guideline value of Kamarajar Nagar 2nd street has changed

The guideline value for Kamarajar Nagar 2nd street has seen several revisions over the years. In 2002, the guideline value was Rs 547 per sq.ft, which increased to Rs 603 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,000 per sq.ft in 2007, and then it jumped to Rs 3,100 per sq.ft in 2012. However, there was a decline to Rs 2,077 per sq.ft in 2017. The value then rose to Rs 3,100 per sq.ft in 2023, and currently stands at Rs 3,400 per sq.ft in 2024.

In terms of changes, from 2002 to 2024, the overall increase is 522%. The most notable change was from 2007 to 2012, where the value increased by 210%. The change from 2017 to 2023 was an increase of 49%, while the most recent change from 2023 to 2024 reflects a 10% increase.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Kamarajar Nagar 2nd street's 2024 figure is below this median.

• Kamarajar Nagar 1st street: Rs 3,400 per sq.ft (2024)
• Kamarajar Nagar 3rd street: Rs 3,400 per sq.ft (2024)
• Kamarajar Nagar 4th street: Rs 3,400 per sq.ft (2024)
• Kamarajar Nagar: Rs 3,400 per sq.ft (2024)
• Kamarajar Nagar 5th street: Rs 3,400 per sq.ft (2024)
• Kancheepuram Pachiyappan 1st lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Nagar 2nd street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, making the total Rs 3,06,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kamarajar Nagar 2nd street?

The Kamarajar Nagar 2nd street falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Egmore, the guideline value is a crucial factor in the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

The guideline value is used to ensure that the transaction is recorded at a fair value, reflecting the market conditions. It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kamarajar Nagar 2nd street?

The current guideline value of Kamarajar Nagar 2nd street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 547 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 522% over the years.

What is the classification of Kamarajar Nagar 2nd street?

Kamarajar Nagar 2nd street is classified as Residential Class III Type - II.

Where can I find the registration office for Kamarajar Nagar 2nd street?

The registration office for Kamarajar Nagar 2nd street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 34,00,000, the stamp duty at 7% would be Rs 2,38,000.