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 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kamarajar Street has changed

The guideline value for Kamarajar Street has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

The most recent revision in 2024 reflects the current valuation, while the previous revisions show a consistent increase from Rs 8,000 in 2023. The guideline values for this street have been updated to reflect the current market conditions as per the Registration Department's guideline value register (TNReginet).

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing Kamarajar Street's 2024 figure 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 rate of Rs 8,700 per sq.ft, the 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 duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Street?

Kamarajar Street is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role during property registration in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property transaction occurs.

When buying or selling property, the guideline value helps ensure that the transaction reflects the fair valuation of the property, which is vital for both the buyer and the seller 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 recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, which is a change of +9%.

What is the land classification for Kamarajar Street?

Kamarajar Street is classified as Residential Class I Type - III according to the land classification standards.

Where can I find the registration office for Kamarajar Street?

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

What is the median guideline value in Mylapore Part 2?

The median guideline value in Mylapore Part 2 is Rs 8,800 per sq.ft, which is higher than the current guideline value of Kamarajar Street.