Guideline Value for Kamarajar Nagar

Kamarajar Nagar guideline value

The current guideline value for Kamarajar Nagar, located in Maduravoyal village under the Virugambakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class V Type - I land classification.

How the guideline value of Kamarajar Nagar has changed

The guideline value for Kamarajar Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 176 per sq.ft. This increased to Rs 193 per sq.ft in 2003, marking a change of +10%. The value then saw significant increases, reaching Rs 600 per sq.ft in 2007, reflecting a change of +211%. Following this, the guideline value was Rs 2,000 per sq.ft in 2012, which was a decrease of -33% from the previous figure. The 2017 revision set the value at Rs 1,340 per sq.ft, and from there, it rose to Rs 2,000 per sq.ft in 2023, showing an increase of +49%.

The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 figure. The register has no figure for this street in the years not mentioned in the revisions.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value. The values range from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. Kamarajar Nagar's 2024 guideline value is below this median.

• Kamatch Nagar 1st Cross Street: Rs 3,600 per sq.ft (2024)
• Kamatch Nagar 1st Main Road: Rs 3,600 per sq.ft (2024)
• Kamatch Nagar 2nd Cross Street: Rs 3,600 per sq.ft (2024)
• Kamatch Nagar 2nd Main Road: Rs 3,600 per sq.ft (2024)
• Kamatch Nagar 3rd Main Road: Rs 3,600 per sq.ft (2024)
• Kamatch Nagar 4th Cross Street: Rs 4,950 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Maduravoyal. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is registered at a fair value as per the government guidelines.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. Accurate knowledge of these values helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Kamarajar Nagar?

The current guideline value of Kamarajar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 176 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1150% over the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Kamarajar Nagar?

Kamarajar Nagar is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Kamarajar Nagar?

Kamarajar Nagar falls under the Residential Class V Type - I land classification, indicating its use for residential purposes.