Guideline Value for Kamarajar Street

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Sholavaram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification and is registered with the Redhills Sub Registrar Office.

How the guideline value of Kamarajar Street has changed

The guideline value for Kamarajar Street has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012, marking a 150% rise. However, it then dropped to Rs 335 per sq.ft in 2017, a decrease of 33%. The value saw a substantial increase of 49% to reach Rs 500 per sq.ft in 2023, and it further increased by 10% to the current value of Rs 550 per sq.ft in 2024.

The register does not have figures for the years 2002 and 2003 for Kamarajar Street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. Kamarajar Street's current guideline value is below this median.

• Kamaraj Nagar: Rs 770 per sq.ft (2024)
• Kakkan Street: Rs 550 per sq.ft (2024)
• Karunanidhi Street: Rs 550 per sq.ft (2024)
• Kathamba Nagar: Rs 660 per sq.ft (2024)
• Katheja Nagar: Rs 550 per sq.ft (2024)
• Kavaraikula Street: Rs 550 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Street?

Kamarajar Street is covered by 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sholavaram. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are accurately assessed during the transaction.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers must be aware of these values to avoid any discrepancies 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 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the stamp duty for property in Kamarajar Street?

The stamp duty for property in Kamarajar Street is calculated at 7% of the guideline value. For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500.

Which Sub Registrar Office should I go to for Kamarajar Street?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that these costs are calculated accurately based on the property's assessed value.