Guideline Value for Kamarajar Nagar 3rd Street

Kamarajar Nagar 3rd Street guideline value

The current guideline value of Kamarajar Nagar 3rd Street is Rs 3,300 per sq.ft. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kamarajar Nagar 3rd Street has changed

The guideline value for Kamarajar Nagar 3rd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase.

The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with the median being Rs 3,300 per sq.ft. Kamarajar Nagar 3rd Street's 2024 guideline value matches this median.

• Kamarajar Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total Rs 2,97,000. 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 Nagar 3rd Street?

Kamarajar Nagar 3rd Street is covered by the Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It is used to calculate the stamp duty and registration fees that are payable at the time of registration.

When a property transaction occurs, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamarajar Nagar 3rd Street?

The current guideline value of Kamarajar Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

What is the land classification for Kamarajar Nagar 3rd Street?

Kamarajar Nagar 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Kamarajar Nagar 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.