Guideline Value for Kamarajar Street (Ward-16)

Kamarajar Street (Ward-16) guideline value

The current guideline value of Kamarajar Street (Ward-16) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kamarajar Street (Ward-16) has changed

The guideline value for Kamarajar Street (Ward-16) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft from the 2024 revision, reflecting a 7% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it saw a significant increase of 49%. Overall, from 2012 to 2024, there has been a 7% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with the median value being Rs 1,600 per sq.ft. Kamarajar Street (Ward-16) aligns with this median value.

• Kamarajar Street (Ward-1): Rs 1,600 per sq.ft (2024)
• Kamarajar Street (Ward-25): Rs 1,600 per sq.ft (2024)
• Kamarajar Street (Ward-8): Rs 1,600 per sq.ft (2024)
• Kamarajar st ( Ward No.29 ): Rs 1,600 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,600 per sq.ft (2024)
• Kamarajar St, Lakshmipuram (Ward-25): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Street (Ward-16)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kamarajar Street (Ward-16)?

The Sub Registrar Office that covers Kamarajar Street (Ward-16) 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 Madhavaram

The guideline value is an essential factor when buying or selling property in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value set by the authorities.

When a property is registered, the guideline value is used to determine the applicable fees, which helps maintain transparency in real estate transactions. It is crucial for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kamarajar Street (Ward-16)?

The current guideline value of Kamarajar Street (Ward-16) is Rs 1,600 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 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft in 2024.

What is the land classification of Kamarajar Street (Ward-16)?

Kamarajar Street (Ward-16) is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Kamarajar Street (Ward-16)?

The Sub Registrar Office for Kamarajar Street (Ward-16) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Kamarajar Street (Ward-16)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.