Guideline Value for Kamarajar Street

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Nemili village is Rs 210 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur Sub Registrar Office and is classified as Residential Class III Type - I.

How the guideline value of Kamarajar Street has changed

Over the years, the guideline value of Kamarajar Street has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which was then reduced to Rs 134 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 200 per sq.ft, and the latest 2024 revision raised it to Rs 210 per sq.ft, marking a 5% increase from the previous year. The register has no figures for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value increased by 5%.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft, with a median value of Rs 250 per sq.ft. Kamarajar Street's 2024 figure is below this median.

• Kakkan Street: Rs 210 per sq.ft (2024)
• Karthik Nagar: Rs 210 per sq.ft (2024)
• Kumaran Street: Rs 210 per sq.ft (2024)
• Hasiya Nagar: Rs 210 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 250 per sq.ft (2024)
• Gragapriya Nagar: Rs 300 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 210 per sq.ft, the total guideline value would be Rs 2,10,000. The stamp duty at 7% would be Rs 14,700, and the registration fee at 2% would be Rs 4,200, bringing the total fees to Rs 18,900. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kamarajar Street?

Kamarajar Street is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Nemili. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, buyers must ensure that the sale price is either equal to or greater than the guideline value. This ensures that the appropriate duties are calculated based on the higher of the two values, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kamarajar Street?

The current guideline value of Kamarajar Street is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 200 per sq.ft in 2023, and finally to Rs 210 per sq.ft in 2024.

What are the other streets in Nemili with similar guideline values?

Other streets in Nemili with a guideline value of Rs 210 per sq.ft include Kakkan Street, Karthik Nagar, Kumaran Street, and Hasiya Nagar.

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

The Sub Registrar Office for Kamarajar Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Nemili?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,10,000, the stamp duty would be calculated at 7% of that amount.