Guideline Value for Kamarajar Street

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Madipakkam-1 village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Kamarajar Street has changed

According to the guideline value register, the revisions for Kamarajar Street are as follows: there are no figures available for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 sets the guideline value at Rs 2,200 per sq.ft.

There have been no changes between the revisions listed above, and the only available figure is from the 2024 revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, making Kamarajar Street's 2024 figure below that median.

• Kamakodi Street: Rs 2,200 per sq.ft (2024)
• Kalyana Kandasamy Street: Rs 2,200 per sq.ft (2024)
• Kalaivani Street: Rs 1,650 per sq.ft (2024)
• Kalaivanar Street: Rs 3,850 per sq.ft (2024)
• Kanagadevar Street: Rs 2,200 per sq.ft (2024)
• Kalaimagal Street: Rs 2,750 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. 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 precise calculations.

Which Sub Registrar Office covers Kamarajar Street?

The Kamarajar Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in the registration process when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, which is critical for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value 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 2,200 per sq.ft, effective from 1 July 2024.

What is the land classification for Kamarajar Street?

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

What are the other streets in Madipakkam-1 with similar guideline values?

Other streets in Madipakkam-1 with a guideline value of Rs 2,200 per sq.ft include Kamakodi Street, Kalyana Kandasamy Street, and Kanagadevar Street.

How is stamp duty calculated for properties in Kamarajar Street?

Stamp duty for properties in Kamarajar Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.

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

The Sub Registrar Office covering Kamarajar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.