Guideline Value for Kamarajar Street

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Velachery village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class II Type - III.

How the guideline value of Kamarajar Street has changed

The guideline value of Kamarajar Street has seen several revisions over the years. In 2002, the value was Rs 343 per sq.ft, which increased to Rs 385 per sq.ft in 2003, marking a change of +12%. The value then surged significantly to Rs 1,500 per sq.ft in 2007, reflecting a remarkable increase of +290%. Following this, the value rose to Rs 3,500 per sq.ft in 2012, an increase of +133%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a decline of -33%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, representing an increase of +64% from 2017. It is worth noting that there is no figure for the year 2023 in the register for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Kamarajar Street's 2024 guideline value is below this median.

• Kamarajar Street, Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Kamarajar Street (Gandhi Salai): Rs 4,400 per sq.ft (2024)
• Kamarajapuram Thittapaguthi Gandhi Street: Rs 5,500 per sq.ft (2024)
• Kamarajapuram, Kumaran Street: Rs 5,500 per sq.ft (2024)
• Kamarajapuram, Gangai Amman Koil Street: Rs 5,500 per sq.ft (2024)
• Kamarajapuram Gandhi Street: Rs 5,500 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 3,850 per sq.ft, the guideline value would be Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. 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 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 Velachery

The guideline value is an essential factor when registering property transactions in Velachery. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transfers.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is important for both buyers and sellers to understand the guideline value as it directly impacts the costs associated with the transaction.

Frequently asked questions

What is the current guideline value of Kamarajar Street?

The current guideline value of Kamarajar Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 343 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of +1022% over the years.

What is the land classification of Kamarajar Street?

Kamarajar Street is classified as Residential Class II Type - III.

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

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

How is stamp duty calculated for properties on Kamarajar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,46,500.