Guideline Value for Kamarajar Street

Kamarajar Street guideline value

The current guideline value of Kamarajar Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and is classified as Residential Class I Type - III.

How the guideline value of Kamarajar Street has changed

In the 2023 revision, the guideline value was Rs 8,000 per sq.ft. This represented an increase of 9% to the current figure of Rs 8,700 per sq.ft in the 2024 revision. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

As we look at the revisions, the 2023 to 2024 change shows a clear upward movement, while the earlier years do not provide any data for Kamarajar Street. Therefore, the most recent figures are essential for understanding the current valuation.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Kamarajar Street's 2024 value below that median.

• Kamarajar Salai: Rs 8,700 per sq.ft (2024)
• Kamatchi Nagar: Rs 14,300 per sq.ft (2024)
• Kanagasri Nagar: Rs 14,300 per sq.ft (2024)
• J.J.Road: Rs 14,300 per sq.ft (2024)
• Jayammal Street: Rs 11,000 per sq.ft (2024)
• Kasthuri Estate: Rs 17,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Kamarajar Street?

Kamarajar Street falls under the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor in the property registration process in Mylapore Part 1. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable on the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kamarajar Street?

The current guideline value of Kamarajar Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, marking a 9% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the classification of Kamarajar Street?

Kamarajar Street is classified as Residential Class I Type - III. This classification affects the guideline value and the applicable regulations for properties in the area.

Where can I find the Sub Registrar Office for Kamarajar Street?

The Sub Registrar Office covering Kamarajar Street is the Chennai Central Joint I SRO, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property valued at Rs 87,00,000, the stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000.