Guideline Value for Kamarajar Nagar 4th Street

Kamarajar Nagar 4th Street guideline value

The current guideline value of Kamarajar Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kamarajar Nagar 4th Street has changed

Over the years, the guideline value for Kamarajar Nagar 4th Street has seen significant changes. The earliest recorded revision was in 2007, where the guideline value was Rs 700 per sq.ft. This figure increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a reduction of 33%. The subsequent revision in 2023 set the value at Rs 3,000 per sq.ft, which then increased by 10% to the current value of Rs 3,300 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 371%. It is important to note that the register does not have 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. The median value among these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Kamarajar Nagar 4th Street.

• Kamarajar Nagar 3rd 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 7th Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamarajar Nagar 4th Street?

The Kamarajar Nagar 4th Street falls under the jurisdiction of 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 when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must refer to the current guideline value to understand their financial obligations accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations. This value is essential for both buyers and sellers to ensure transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kamarajar Nagar 4th Street?

The current guideline value of Kamarajar Nagar 4th 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 significantly from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 371% over the years.

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

Other streets in Kolathur that share the same guideline value of Rs 3,300 per sq.ft include Kamarajar Nagar 2nd, 3rd, 5th, 6th, 7th, and 8th Streets.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Kamarajar Nagar 4th Street?

Stamp duty for properties in Kamarajar Nagar 4th Street is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 2,31,000.