Guideline Value for Kamarajar Street

Kamarajar Street guideline value

The current guideline value of Kamarajar Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Grandlyon village, under the Redhills 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 undergone several revisions over the years. In the 2007 revision, the value was Rs 300 per sq.ft, which increased to Rs 600 per sq.ft in 2012, marking a 100% rise. However, in the 2017 revision, it decreased to Rs 402 per sq.ft, a decline of 33%. The value then saw a significant increase to Rs 600 per sq.ft in 2023, followed by a further rise to Rs 660 per sq.ft in the 2024 revision, representing a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 120%. The register does not provide figures for Kamarajar Street for the years 2002 and 2003.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median value is Rs 660 per sq.ft, which is the same as the guideline value for Kamarajar Street.

• Kalikambal Nagar: Rs 440 per sq.ft (2024)
• Kalaivanar Street: Rs 660 per sq.ft (2024)
• Kanaga Durga Nagar: Rs 440 per sq.ft (2024)
• Kandasamy Nagar: Rs 880 per sq.ft (2024)
• Karalmarks Nagar: Rs 660 per sq.ft (2024)
• Karikal Cholan Salai: Rs 660 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total charges Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamarajar Street?

Kamarajar Street falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. 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 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would be Rs 59,400.

Which office handles registrations for Kamarajar Street?

The Redhills Sub Registrar Office handles registrations for Kamarajar Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Kamarajar Street?

Kamarajar Street is classified as Residential Class II Type - I, which indicates its designation for residential use.