Guideline Value for Kamarajar Nagar 8th Street

Kamarajar Nagar 8th Street guideline value

The current guideline value of Kamarajar Nagar 8th 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 8th Street has changed

The guideline value for Kamarajar Nagar 8th Street has seen several revisions over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was substantial at 329%. Overall, from 2007 to 2024, the guideline value has increased by 371%. The register does not contain figures for the years 2002 and 2003 for Kamarajar Nagar 8th 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 value being Rs 3,300 per sq.ft. Kamarajar Nagar 8th Street's 2024 guideline value aligns with this median.

• Kamarajar Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Nagar 6th 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 8th 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. Together, the total cost 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Nagar 8th Street?

The Kamarajar Nagar 8th 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 property transactions in Kolathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use it to calculate applicable duties and fees.

When registering a property, the guideline value helps ensure that the transaction is documented at a fair value, preventing underreporting of property values. This is essential for maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Kamarajar Nagar 8th Street?

The current guideline value of Kamarajar Nagar 8th 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 8th Street?

Kamarajar Nagar 8th Street is classified as Residential Class I Type - I.

Where is the Sembiam Sub Registrar Office located?

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

How is stamp duty calculated for properties in Kamarajar Nagar 8th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,31,000.