Guideline Value for Kamarajar Nagar 7th Street

Kamarajar Nagar 7th Street guideline value

The current guideline value of Kamarajar Nagar 7th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. 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 7th Street has changed

The guideline value for Kamarajar Nagar 7th Street has seen several revisions over the years. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a rise of 329%. However, from 2012 to 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the most recent 2024 revision has set it at Rs 3,300 per sq.ft, an increase of 10% from the previous year.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 371%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value for Kamarajar Nagar 7th Street.

• Kamarajar Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 5th 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 7th 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamarajar Nagar 7th Street?

The Kamarajar Nagar 7th 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 is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

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

Frequently asked questions

What is the current guideline value of Kamarajar Nagar 7th Street?

The current guideline value of Kamarajar Nagar 7th 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, showing an overall increase of 371% over the years.

What are the stamp duty and registration fees for property in Kamarajar Nagar 7th Street?

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 Sub Registrar Office covers Kamarajar Nagar 7th Street?

The Sembiam Sub Registrar Office covers Kamarajar Nagar 7th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Kamarajar Nagar 7th Street?

Kamarajar Nagar 7th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.