Guideline Value for Kamarajar Nagar

Kamarajar Nagar guideline value

The current guideline value of Kamarajar Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village, under the Konnur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kamarajar Nagar has changed

The guideline value for Kamarajar Nagar has seen significant changes over the years. In the 2002 revision, the value was Rs 357 per sq.ft, which increased to Rs 392 per sq.ft in 2003. Following that, the value rose dramatically to Rs 800 per sq.ft in 2007, and then to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The 2023 revision saw a substantial increase to Rs 5,000 per sq.ft, followed by the current value of Rs 5,500 per sq.ft in 2024.

Examining the changes, the value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a notable increase of 49%. The period from 2012 to 2017 saw a decrease of 33%. The value surged by 525% from 2007 to 2012, and from 2003 to 2007, it increased by 104%. Overall, from 2002 to 2024, there has been an impressive increase of 1441%.

Guideline values in Mugappair

Kamarajar Nagar's guideline value of Rs 5,500 per sq.ft is below the median value of Rs 7,100 per sq.ft for the 224 streets in Mugappair under the Konnur SRO, which range from Rs 3,300 to Rs 8,800 per sq.ft.

• Kamarajar Street: Rs 3,800 per sq.ft (2024)
• Kamadhenu Chamber: Rs 7,100 per sq.ft (2024)
• Kallamegam Road: Rs 8,800 per sq.ft (2024)
• Kamaraj nagar and 1 to 4 Cross Street: Rs 3,800 per sq.ft (2024)
• Kambar Salai: Rs 8,800 per sq.ft (2024)
• Kannadhasan Salai: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. It is important to note that the 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?

The Kamarajar Nagar area is covered by the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. Buyers and sellers must be aware of the guideline value as it directly impacts the overall cost involved in property transactions in the area.

Frequently asked questions

What is the current guideline value of Kamarajar Nagar?

The current guideline value of Kamarajar Nagar is Rs 5,500 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 357 per sq.ft in 2002 to the current Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1441% over the years.

What is the median guideline value for streets in Mugappair?

The median guideline value for streets in Mugappair is Rs 7,100 per sq.ft, while Kamarajar Nagar's guideline value is below this median.

What are the stamp duty and registration fees for Kamarajar Nagar?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Kamarajar Nagar?

The Konnur Sub Registrar Office handles registrations for Kamarajar Nagar, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.