Guideline Value for Kamarajar Street (Kalaignar Nagar)

Kamarajar Street (Kalaignar Nagar) guideline value

The current guideline value of Kamarajar Street (Kalaignar Nagar) is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

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

The guideline value for Kamarajar Street (Kalaignar Nagar) has seen several revisions over the years. In 2002, the guideline value was Rs 256 per sq.ft. This figure increased to Rs 320 per sq.ft in 2003, marking a 25% rise. The value continued to grow, reaching Rs 750 per sq.ft in 2007, which was a significant increase of 134%. By 2012, the guideline value rose to Rs 2,500 per sq.ft, reflecting a 233% increase from the previous revision. However, this value decreased to Rs 1,675 per sq.ft in 2017, representing a decline of 33%.

In 2023, the guideline value was set at Rs 2,500 per sq.ft, and the most recent revision in 2024 has increased it to Rs 2,750 per sq.ft, a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 974%. There are no figures available for the revisions in any other years for this street.

Guideline values in Parangimalai

In Parangimalai village, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. Kamarajar Street's 2024 guideline value is below this median.

• Kamarajar Street: Rs 2,750 per sq.ft (2024)
• Kambar Street: Rs 3,300 per sq.ft (2024)
• Kalaignar Nagar Muthuranga Mudaliar: Rs 2,750 per sq.ft (2024)
• Kalaignar Nagar (Kannagi Street): Rs 2,750 per sq.ft (2024)
• Kalaignar Nagar: Rs 2,750 per sq.ft (2024)
• Kannagi Street: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty, charged at 7%, would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kamarajar Street (Kalaignar Nagar)?

The Sub Registrar Office that covers Kamarajar Street (Kalaignar Nagar) is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Parangimalai. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. This value ensures that the transaction is recorded accurately and that the appropriate fees are collected based on the established rates.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. It is essential to note that the higher of the guideline value or the sale price will be used to calculate the applicable duties and fees, ensuring that the transaction reflects the correct financial obligations.

Frequently asked questions

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

The current guideline value of Kamarajar Street (Kalaignar Nagar) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 256 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 974% over this period.

What are the other streets in Parangimalai with their guideline values?

Other streets in Parangimalai include Kambar Street at Rs 3,300 per sq.ft, and several streets in Kalaignar Nagar, all valued at Rs 2,750 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Kamarajar Street?

The stamp duty for a property valued at Rs 27,50,000 would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Kamarajar Street?

The Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, covers Kamarajar Street (Kalaignar Nagar).