Guideline Value for Kamarajar Street

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Madambakkam village is Rs 1,900 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Kamarajar Street has changed

The guideline value for Kamarajar Street has remained stable at Rs 1,800 per sq.ft from the 2012 revision until the 2023 revision. In 2024, the value increased to Rs 1,900 per sq.ft, reflecting a change of +6% from the previous year. Notably, there were no figures available for the revisions in 2002, 2003, 2007, and 2017.

From the 2012 revision to the 2024 revision, the overall change in the guideline value is +6%. The 2023 revision maintained the same value as the 2012 revision, indicating no change during that period.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Kamarajar Street's 2024 figure below this median.

• Kamarajar Street (Chozhen Nagar): Rs 1,900 per sq.ft (2024)
• Kamarajar 3rd Street: Rs 1,900 per sq.ft (2024)
• Kamarajar 2nd Street: Rs 1,900 per sq.ft (2024)
• Kamarajar 1st Street: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,900 per sq.ft (2024)
• Kamaraj Nagar 1st Cross Street: Rs 1,900 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 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total Rs 1,71,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Kamarajar Street?

The Kamarajar Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kamarajar Street?

The current guideline value of Kamarajar Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From the 2012 revision to the 2024 revision, the guideline value increased from Rs 1,800 to Rs 1,900 per sq.ft, reflecting a total change of +6%. The value remained stable at Rs 1,800 from 2012 to 2023.

What are the guideline values of other streets in Madambakkam?

Other streets in Madambakkam have guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. Kamarajar Street's 2024 value is below this median.

What fees are associated with property transactions on Kamarajar Street?

For property transactions on Kamarajar Street, the stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,71,000.

Where is the Sub Registrar Office for Kamarajar Street located?

The Sub Registrar Office covering Kamarajar Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.