Guideline Value for Kamarajar Street

Kamarajar Street guideline value

The current guideline value of Kamarajar Street, located in Theerthangiriyampattu village, is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Redhills SRO and is classified as Industries Type - I.

How the guideline value of Kamarajar Street has changed

The guideline value for Kamarajar Street has seen several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 469 per sq.ft. The subsequent revision in 2023 saw a significant increase to Rs 700 per sq.ft, followed by the latest revision in 2024, which raised it to Rs 770 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2024, the overall increase in the guideline value is 54%. The change from 2023 to 2024 represents a 10% rise, while the increase from 2017 to 2023 is 49%. The value decreased by 33% from 2012 to 2017, and there was a 40% increase from 2007 to 2012.

Guideline values in Theerthangiriyampattu

In Theerthangiriyampattu, there are 24 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 880 per sq.ft, with a median value of Rs 605 per sq.ft. Kamarajar Street's 2024 figure is above this median.

• Kannappar Street: Rs 770 per sq.ft (2024)
• Karunanidhi Street: Rs 605 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 330 per sq.ft (2024)
• Gandhi Street: Rs 770 per sq.ft (2024)
• Mettu Street: Rs 605 per sq.ft (2024)
• Moongilan Street: Rs 605 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total charges to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Street?

The Sub Registrar Office that covers Kamarajar Street is 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 assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Theerthangiriyampattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Both buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements 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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 54% over the years.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

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 significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property, which is essential for calculating stamp duty and registration fees during property transactions.