Guideline Value for Kamarajar Street

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Parangimalai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Kamarajar Street has changed

The guideline value for Kamarajar Street has seen several revisions over the years. Starting from Rs 256 per sq.ft in 2002, it increased to Rs 320 per sq.ft in 2003, marking a 25% rise. The value then rose significantly to Rs 750 per sq.ft in 2007, which was a 134% increase. In 2012, the value was recorded at Rs 2,500 per sq.ft, showing a substantial increase of 233%. However, it dropped to Rs 1,675 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 974%. There are no figures available for the revisions in years other than those listed.

Guideline values in Parangimalai

In Parangimalai, 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. The median value is Rs 3,850 per sq.ft, placing Kamarajar Street's 2024 figure below this median.

• Kamarajar Street (Kalaignar Nagar): 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)
• Kaji Sayabu Street: Rs 3,850 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 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that 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 is covered by 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 of property transactions in Parangimalai. It determines the minimum value at which a property can be registered, ensuring that the government collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price, while sellers must consider this value when setting their selling price.

Frequently asked questions

What is the current guideline value of Kamarajar Street?

The current guideline value of Kamarajar Street 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 from Rs 256 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 974% over the years.

What is the land classification for Kamarajar Street?

Kamarajar Street is classified as Residential Class III Type - I under the Chennai South Joint II SRO.

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

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

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

The Sub Registrar Office covering Kamarajar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.