Guideline Value for Kamarajar Street

Kamarajar Street guideline value

The current guideline value of Kamarajar Street in Molachoor village is Rs 600 per sq.ft, effective from the 2024 revision. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Kamarajar Street has changed

Over the years, the guideline value for Kamarajar Street has seen several revisions. The earliest recorded figure is from 2007, which was Rs 100 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a 500% rise. However, it dropped to Rs 402 per sq.ft in 2017, a decrease of 33%. The guideline value remained at Rs 600 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2007 revision to the 2024 revision, the guideline value has increased by 500%, reflecting significant changes in the valuation over the years.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, making Kamarajar Street's current value equal to this median.

• Kalliamman Kovil Street: Rs 300 per sq.ft (2024)
• Kambar Street: Rs 600 per sq.ft (2024)
• Kaideymilleth Street: Rs 600 per sq.ft (2024)
• Karpagavalli Nagar: Rs 800 per sq.ft (2024)
• Karumariamman Kovil Street: Rs 800 per sq.ft (2024)
• J.J. 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 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total cost Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar Street?

Kamarajar Street is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of properties in Molachoor. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it can significantly impact the overall transaction costs. Understanding this value helps in making informed decisions during property transactions in the area.

Frequently asked questions

What is the current guideline value of Kamarajar Street?

The current guideline value of Kamarajar Street is Rs 600 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 100 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, remaining constant at Rs 600 per sq.ft in the 2023 and 2024 revisions.

What is the land classification for Kamarajar Street?

Kamarajar Street is classified as Residential Special Type - III, indicating its suitability for residential development.

Where can I find the registration office for Kamarajar Street?

The registration office for Kamarajar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated on properties in Molachoor?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the fees are reflective of the property's value during the registration process.