Guideline Value for Kamarajar Nagar

Kamarajar Nagar guideline value

The current guideline value of Kamarajar Nagar is Rs 650 per sq.ft, effective from 1 July 2024. This area is located in Moonramkattalai village, under the Kunrathur 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 undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the latest revision in 2024 raised it further to Rs 650 per sq.ft, marking an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Moonramkattalai

In Moonramkattalai village, there are 43 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 650 to Rs 2,750 per sq.ft. The median value for these streets is Rs 650 per sq.ft, which is equal to the guideline value of Kamarajar Nagar.

• Kalvai Street (Kalvai karai Street): Rs 650 per sq.ft (2024)
• Kandasamy Nagar: Rs 650 per sq.ft (2024)
• Kundrathur Road: Rs 1,350 per sq.ft (2024)
• K.V. Road: Rs 650 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 650 per sq.ft, the guideline value would be Rs 6,50,000. The stamp duty at 7% would amount to Rs 45,500, and the registration fee at 2% would be Rs 13,000, totaling Rs 58,500. Please 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 further calculations.

Which Sub Registrar Office covers Kamarajar Nagar?

The Kamarajar Nagar area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Moonramkattalai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kamarajar Nagar?

The current guideline value of Kamarajar Nagar is Rs 650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 650 per sq.ft in 2024.

What are the other streets in Moonramkattalai with similar guideline values?

Other streets in Moonramkattalai with a guideline value of Rs 650 per sq.ft in 2024 include Kalvai Street, Kandasamy Nagar, and K.V. Road.

What is the stamp duty rate for property in Kamarajar Nagar?

The stamp duty rate for property in Kamarajar Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kamarajar Nagar?

The Sub Registrar Office covering Kamarajar Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.