Guideline Value for Kamarajar Nagar 6th Street

Kamarajar Nagar 6th Street guideline value

The current guideline value of Kamarajar Nagar 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam Sub Registrar Office, classified as Residential Class I Type - I.

How the guideline value of Kamarajar Nagar 6th Street has changed

The guideline value for Kamarajar Nagar 6th Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, the most notable change occurred from 2007 to 2012, where the value increased by 329%. From 2017 to 2023, there was a 49% increase. Overall, from 2007 to 2024, the guideline value has increased by 371%. 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 is Rs 3,300 per sq.ft, which is the same as the guideline value for Kamarajar Nagar 6th Street.

• Kamarajar Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Nagar 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling 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 precise calculations.

Which Sub Registrar Office covers Kamarajar Nagar 6th Street?

The Kamarajar Nagar 6th 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 further assistance.

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

The guideline value is a crucial factor during property registration in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the actual sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kamarajar Nagar 6th Street?

The current guideline value of Kamarajar Nagar 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much 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, representing a total increase of 371% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Kamarajar Nagar 6th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registrations for Kamarajar Nagar 6th Street.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties, impacting the calculation of stamp duty and registration fees during property transactions.