Guideline Value for Kamarajar Nagar Periya Road

Kamarajar Nagar Periya Road guideline value

The current guideline value of Kamarajar Nagar Periya Road is Rs 385 per sq.ft, effective from 1 July 2024. This road is located in Padiyanallur village, under the jurisdiction of the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kamarajar Nagar Periya Road has changed

The guideline value for Kamarajar Nagar Periya Road has seen significant changes over the years. In 2003, the guideline value was Rs 17 per sq.ft, which increased dramatically to Rs 200 per sq.ft in 2007, marking an increase of 1,076%. The value then rose to Rs 350 per sq.ft in 2012, showing a 75% increase from the previous revision. However, it decreased to Rs 234 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 350 per sq.ft in 2023, and most recently, it increased by 10% to the current value of Rs 385 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 2,165%. The register has no figure for the year 2002 for this street.

Guideline values in Padiyanallur

Padiyanallur village has 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, indicating that Kamarajar Nagar Periya Road's 2024 figure is below this median.

• Kamarajar Nagar (Bhavani Nagar): Rs 660 per sq.ft (2024)
• Kamarajar Street (M.A.Nagar): Rs 770 per sq.ft (2024)
• Kalpaga Nagar: Rs 1,320 per sq.ft (2024)
• Kalanchinathan Street: Rs 660 per sq.ft (2024)
• Kalaivanar Street: Rs 770 per sq.ft (2024)
• Kambar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Nagar Periya Road

For a 1,000 sq.ft plot at the current rate of Rs 385 per sq.ft, the guideline value amounts to Rs 3,85,000. The stamp duty at 7% would be Rs 26,950, while the registration fee at 2% would be Rs 7,700. Together, the total cost for stamp duty and registration would be Rs 34,650. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Nagar Periya Road?

The Kamarajar Nagar Periya Road falls under the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Padiyanallur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and fairly within the legal framework.

During the registration process, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with local regulations. This system helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kamarajar Nagar Periya Road?

The current guideline value of Kamarajar Nagar Periya Road is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 17 per sq.ft in 2003 to Rs 385 per sq.ft in 2024, reflecting an overall increase of 2,165% over the years.

What are the stamp duty and registration fees for property in Kamarajar Nagar Periya Road?

For a 1,000 sq.ft plot, the stamp duty would be Rs 26,950 and the registration fee would be Rs 7,700, totaling Rs 34,650 based on the current guideline value.

Which Sub Registrar Office covers Kamarajar Nagar Periya Road?

The Redhills Sub Registrar Office covers Kamarajar Nagar Periya Road, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Kamarajar Nagar Periya Road?

Kamarajar Nagar Periya Road is classified as Residential Class III Type - I, indicating its designated use for residential purposes.