Guideline Value for Kamarajar Salai

Kamarajar Salai guideline value

The current guideline value of Kamarajar Salai is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO and is classified as Residential Class I Type - III.

How the guideline value of Kamarajar Salai has changed

The guideline value register shows no figures for Kamarajar Salai for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 8,000 per sq.ft, which was an increase from the previous revisions that do not have figures for this street.

In the 2024 revision, the guideline value increased to Rs 8,700 per sq.ft, reflecting a change of +9% from the 2023 figure. This increase indicates a shift in the valuation of properties along Kamarajar Salai.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a total of 332 streets under the Chennai Central Joint I SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing Kamarajar Salai's 2024 figure below this median.

• Kamarajar Street: Rs 8,700 per sq.ft (2024)
• Kamatchi Nagar: Rs 14,300 per sq.ft (2024)
• Kanagasri Nagar: Rs 14,300 per sq.ft (2024)
• J.J.Road: Rs 14,300 per sq.ft (2024)
• Jayammal Street: Rs 11,000 per sq.ft (2024)
• Kasthuri Estate: Rs 17,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, making the total charges Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Salai?

The Kamarajar Salai is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for additional details.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a critical factor in the registration process for buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is registered, the guideline value is assessed to ensure that the transaction is recorded at a value that reflects the current market conditions. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Kamarajar Salai?

The current guideline value of Kamarajar Salai is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kamarajar Salai has seen changes from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a +9% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 2?

The median guideline value for Mylapore Part 2 is Rs 8,800 per sq.ft. Kamarajar Salai's guideline value of Rs 8,700 per sq.ft is below this median.

What are the stamp duty rates applicable for properties in Kamarajar Salai?

The stamp duty for properties in Kamarajar Salai is charged at 7% of the guideline value or the sale price, whichever is higher. This is in addition to a registration fee of 2%.

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

The Sub Registrar Office covering Kamarajar Salai is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details by visiting the appropriate link.