Guideline Value for Kamarajar Street Ch-78(M.G.R)

Kamarajar Street Ch-78(M.G.R) guideline value

The current guideline value of Kamarajar Street Ch-78(M.G.R) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - II.

How the guideline value of Kamarajar Street Ch-78(M.G.R) has changed

Over the years, the guideline value for Kamarajar Street Ch-78(M.G.R) has seen several revisions. The 2012 revision recorded a guideline value of Rs 3,000 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 3,000 per sq.ft. The 2024 revision marked a significant increase, raising the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase 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, the guideline value has increased by 10% from the 2012 revision to the 2024 revision.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that Kamarajar Street Ch-78(M.G.R) is below this median value.

• Kamarajar Street (JPT): Rs 4,100 per sq.ft (2024)
• Kamaraj Colony: Rs 4,100 per sq.ft (2024)
• Kamaraj Colony Block 80: Rs 4,100 per sq.ft (2024)
• Kamarajar Salai Ch-78: Rs 8,800 per sq.ft (2024)
• Kamarajar Salai (Block 29) Ashok Nagar: Rs 8,800 per sq.ft (2024)
• Kamarajar Colony 9th Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Street Ch-78(M.G.R)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is essential 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 Ch-78(M.G.R)?

The Kamarajar Street Ch-78(M.G.R) is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical component in the registration process of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the necessary fees. This ensures that the transaction is recorded officially and that the appropriate taxes are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kamarajar Street Ch-78(M.G.R)?

The current guideline value of Kamarajar Street Ch-78(M.G.R) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There were no changes recorded for the years 2003, 2002, 2007, and 2017.

What is the land classification for Kamarajar Street Ch-78(M.G.R)?

The land classification for Kamarajar Street Ch-78(M.G.R) is Residential Class IV Type - II, indicating its suitability for residential development.

Where can I find the Ashok Nagar Sub Registrar Office?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Kamarajar Street Ch-78(M.G.R)?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.