Guideline Value for Kamarajar Street

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Neelankarai village, under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Kamarajar Street has changed

The guideline value for Kamarajar Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 148 per sq.ft. This increased significantly to Rs 161 per sq.ft in 2003, marking a 9% rise. The value then surged to Rs 1,000 per sq.ft by 2007, reflecting a substantial increase of 521%. In 2012, the value remained at Rs 1,500 per sq.ft, and then it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The most recent revisions show an increase to Rs 1,500 per sq.ft in 2023, followed by the current value of Rs 1,700 per sq.ft in 2024, which is a 13% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,049%. There are no figures available for the years not listed in the register for Kamarajar Street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value is Rs 2,200 per sq.ft, indicating that Kamarajar Street's 2024 figure is below this median.

• Kamaraj Nagar: Rs 2,200 per sq.ft (2024)
• Kalyani Nagar (near Vaidyalingam Salai): Rs 1,700 per sq.ft (2024)
• Kamaraj Street: Rs 1,700 per sq.ft (2024)
• Kalathu Mettu Street: Rs 3,300 per sq.ft (2024)
• Kambar Street: Rs 1,700 per sq.ft (2024)
• Kalaignar Karunanidhi Salai: Rs 6,600 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 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. 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?

The Sub Registrar Office that covers Kamarajar Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable taxes and fees. Buyers should be aware that the stamp duty is based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kamarajar Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 148 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1,049% over the years.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft, which is higher than the current value of Kamarajar Street.

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

The stamp duty for a property on Kamarajar Street is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 1,53,000.

Where is the Sub Registrar Office for Kamarajar Street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.