Guideline Value for Kamarajar Nagar

Kamarajar Nagar guideline value

The current guideline value of Kamarajar Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Vada Mangalam village, under the Sunguvarchattram SRO, and is classified as Residential Special Type - III.

How the guideline value of Kamarajar Nagar has changed

Over the years, the guideline value for Kamarajar Nagar has seen several revisions. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, in 2017, the value was reduced to Rs 234 per sq.ft, marking a decrease of 33%. The 2023 revision returned the value to Rs 350 per sq.ft, which was maintained in the 2024 revision, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 350 per sq.ft in 2023. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 350 per sq.ft, indicating a stable valuation in recent years.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft, with a median value of Rs 250 per sq.ft. Kamarajar Nagar's current guideline value of Rs 350 per sq.ft is above this median.

• Kambar Street: Rs 200 per sq.ft (2024)
• Kakkan Street: Rs 200 per sq.ft (2024)
• Iswarya Nagar: Rs 350 per sq.ft (2024)
• Iswarya Lakshmi Nagar: Rs 350 per sq.ft (2024)
• Indhira Nagar: Rs 350 per sq.ft (2024)
• Kullakarai Street: Rs 200 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, resulting in a total of Rs 31,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamarajar Nagar?

Kamarajar Nagar falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during the registration process when buying or selling property in Vada Mangalam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This helps in maintaining transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kamarajar Nagar?

The current guideline value of Kamarajar Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft in 2023 and 2024, while it was Rs 234 per sq.ft in 2017. The value was previously set at Rs 350 per sq.ft in 2012, showing no overall change from 2012 to 2024.

What is the land classification of Kamarajar Nagar?

Kamarajar Nagar is classified as Residential Special Type - III. This classification indicates the intended use of the land for residential purposes.

Which Sub Registrar Office covers Kamarajar Nagar?

Kamarajar Nagar is covered by the Sunguvarchattram Sub Registrar Office, located on Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Kamarajar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 3,50,000, the stamp duty at 7% would be Rs 24,500, along with a registration fee of Rs 7,000, totaling Rs 31,500.