Guideline Value for Kamarajar Nagar

Kamarajar Nagar guideline value

The current guideline value of Kamarajar Nagar is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is located in Egmore village and falls under the Periamet SRO. The land classification for this street is Residential Class III Type - II.

How the guideline value of Kamarajar Nagar has changed

The guideline value for Kamarajar Nagar has undergone several revisions over the years. In 2002, the value was Rs 547 per sq.ft, which increased to Rs 603 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,000 per sq.ft in 2007, and then to Rs 3,100 per sq.ft in 2012. However, in 2017, it decreased to Rs 2,077 per sq.ft. The most recent revisions show an increase to Rs 3,100 per sq.ft in 2023, followed by the current value of Rs 3,400 per sq.ft in 2024.

Between the revisions, notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a substantial 210% increase from 2007 to 2012, a 66% increase from 2003 to 2007, and a 10% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 522%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Kamarajar Nagar's 2024 value below that median.

• Kamarajar Nagar 1st street: Rs 3,400 per sq.ft (2024)
• Kamarajar Nagar 2nd street: Rs 3,400 per sq.ft (2024)
• Kamarajar Nagar 3rd street: Rs 3,400 per sq.ft (2024)
• Kamarajar Nagar 4th street: Rs 3,400 per sq.ft (2024)
• Kamarajar Nagar 5th street: Rs 3,400 per sq.ft (2024)
• Kancheepuram Pachiyappan 1st lane: Rs 4,400 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 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total to Rs 3,06,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamarajar Nagar?

Kamarajar Nagar is covered by the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Egmore. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is documented accurately and that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamarajar Nagar?

The current guideline value of Kamarajar Nagar is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 547 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 522% over this period.

What is the land classification for Kamarajar Nagar?

Kamarajar Nagar is classified as Residential Class III Type - II, indicating its use for residential purposes.

Where can I find the registration office for Kamarajar Nagar?

The registration office for Kamarajar Nagar is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Kamarajar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 34,00,000 would incur a stamp duty of Rs 2,38,000 at 7%.