Guideline Value for Kamarajar Street (Chozhen Nagar)

Kamarajar Street (Chozhen Nagar) guideline value

The current guideline value for Kamarajar Street (Chozhen Nagar) is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kamarajar Street (Chozhen Nagar) has changed

In the 2012 revision, the guideline value for Kamarajar Street was Rs 1,800 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 1,800 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,900 per sq.ft, marking a 6% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from 2012 to 2024, there has been a 6% increase in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, indicating that Kamarajar Street's 2024 figure is below this median.

• Kamarajar Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 1st Cross Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Street (Chozhen Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total cost for these fees Rs 1,71,000. 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 Street (Chozhen Nagar)?

Kamarajar Street (Chozhen Nagar) is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that buyers must pay during the registration process. The higher of the guideline value or the sale price is considered for calculating these fees.

When buying or selling property, it is essential to refer to the guideline value to understand the financial implications of the transaction. Buyers should ensure that they are aware of the current rates to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kamarajar Street (Chozhen Nagar)?

The current guideline value of Kamarajar Street (Chozhen Nagar) is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kamarajar Street was Rs 1,800 per sq.ft in 2012 and remained the same until 2023. In 2024, it increased to Rs 1,900 per sq.ft, marking a 6% rise from the previous year.

What are the other streets in Madambakkam with the same guideline value?

Other streets in Madambakkam under the Selaiyur SRO with the same guideline value of Rs 1,900 per sq.ft include Kamaraj Nagar, Kamaraj Nagar 1st Cross Street, Kamaraj Nagar 1st Street, Kamaraj Nagar 2nd Cross Street, and Kamaraj Nagar 2nd Street.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Kamarajar Street?

The stamp duty for properties in Kamarajar Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.