Guideline Value for Kamarajar Street

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Mugappair village is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Class II Type - I.

How the guideline value of Kamarajar Street has changed

The guideline value for Kamarajar Street has seen significant changes over the years. In 2002, the value was Rs 399 per sq.ft, which increased to Rs 438 per sq.ft in 2003. The value rose sharply to Rs 1,200 per sq.ft in 2007, followed by a substantial increase to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,800 per sq.ft.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 9%. The largest increase occurred from 2007 to 2012, which saw a rise of 192%. Overall, from 2002 to 2024, the guideline value has increased by 852%. The register has no figure for the years not mentioned.

Guideline values in Mugappair

In Mugappair village, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. Kamarajar Street's 2024 figure is below this median.

• Kamarajar Nagar: Rs 5,500 per sq.ft (2024)
• Kamaraj nagar and 1 to 4 Cross Street: Rs 3,800 per sq.ft (2024)
• Kamadhenu Chamber: Rs 7,100 per sq.ft (2024)
• Kallamegam Road: Rs 8,800 per sq.ft (2024)
• Kambar Salai: Rs 8,800 per sq.ft (2024)
• Kannadhasan Salai: Rs 5,500 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 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total cost Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Street?

The Sub Registrar Office that covers Kamarajar Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamarajar Street?

The current guideline value of Kamarajar Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 399 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, with several revisions in between, including a drop in 2017.

What is the land classification for Kamarajar Street?

Kamarajar Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The Konnur Sub Registrar Office covers Kamarajar Street and is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Kamarajar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,00,000, the stamp duty at 7% would amount to Rs 2,66,000.