Guideline Value for Kamarajar Street (Gandhi Salai)

Kamarajar Street (Gandhi Salai) guideline value

The current guideline value of Kamarajar Street (Gandhi Salai) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kamarajar Street (Gandhi Salai) has changed

The guideline value for Kamarajar Street (Gandhi Salai) has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,500 per sq.ft. This increased to Rs 2,680 per sq.ft in 2017, marking a change of +79%. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, reflecting a significant increase of +64% from 2017.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +193%. It is important to note that there are no figures available for the years 2002, 2003, 2012, and 2023 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Kamarajar Street (Gandhi Salai) has a 2024 guideline value that is equal to this median.

• Kamarajar Street, Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Kamarajar Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Nagar 2nd Street (100 Ft. Bye-Pass Road): Rs 13,200 per sq.ft (2024)
• Kamarajapuram Thittapaguthi Gandhi Street: Rs 5,500 per sq.ft (2024)
• Kamarajapuram, Kumaran Street: Rs 5,500 per sq.ft (2024)
• Kamarajapuram, Gangai Amman Koil Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Street (Gandhi Salai)

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kamarajar Street (Gandhi Salai)?

The Sub Registrar Office that covers Kamarajar Street (Gandhi Salai) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kamarajar Street (Gandhi Salai)?

The current guideline value of Kamarajar Street (Gandhi Salai) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 2,680 per sq.ft in 2017, and then to Rs 4,400 per sq.ft in 2024. This represents an overall increase of +193% from 2007 to 2024.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the stamp duty rate for properties in Kamarajar Street (Gandhi Salai)?

The stamp duty rate for properties in Kamarajar Street (Gandhi Salai) is 7% of the guideline value or sale price, whichever is higher.

How do I calculate the registration fee for a property?

The registration fee for a property in Kamarajar Street (Gandhi Salai) is 2% of the guideline value or sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.