Guideline Value for Kamarajar Salai / High Road

Kamarajar Salai / High Road guideline value

The current guideline value of Kamarajar Salai / High Road is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, with a land classification of Commercial Class I Type - I.

How the guideline value of Kamarajar Salai / High Road has changed

The guideline value for Kamarajar Salai / High Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,301 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, while the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as of 2024. The median guideline value in this area is Rs 2,700 per sq.ft, placing Kamarajar Salai / High Road above this median.

• Kamarajar Salai 9th Lane: Rs 1,900 per sq.ft (2024)
• Kamarajar Salai 8th Lane: Rs 1,900 per sq.ft (2024)
• Kamarajar Salai 7th Lane: Rs 1,900 per sq.ft (2024)
• Kamarajar Salai 6th Lane: Rs 1,900 per sq.ft (2024)
• Kamarajar Salai 5th Lane: Rs 1,900 per sq.ft (2024)
• Kamarajar Salai 5th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Salai / High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further assistance, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Salai / High Road?

The Sub Registrar Office that covers Kamarajar Salai / High Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial component in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the values are consistent and transparent during property transactions.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kamarajar Salai / High Road?

The current guideline value of Kamarajar Salai / High Road is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,301 per sq.ft in 2024, representing a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification of Kamarajar Salai / High Road?

The land classification of Kamarajar Salai / High Road is Commercial Class I Type - I.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.