Guideline Value for Kamarajar Veethi

Kamarajar Veethi guideline value

The current guideline value of Kamarajar Veethi is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chennerkuppam village under the Kunrathur SRO, classified as Residential Class II Type - II.

How the guideline value of Kamarajar Veethi has changed

The guideline value for Kamarajar Veethi has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it then decreased to Rs 670 per sq.ft in 2017. The 2023 revision raised it to Rs 1,000 per sq.ft, and the most recent 2024 revision has further increased it to Rs 1,100 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 reflects a 10% rise. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft, with a median value of Rs 1,540 per sq.ft. The guideline value of Kamarajar Veethi is below this median.

• Jeevan Prekash Nagar: Rs 1,430 per sq.ft (2024)
• J.D. Nagar: Rs 1,540 per sq.ft (2024)
• Jayasali Nagar: Rs 1,430 per sq.ft (2024)
• Kuppuswamy Nagar: Rs 1,540 per sq.ft (2024)
• Gangai Amman Nagar: Rs 1,430 per sq.ft (2024)
• Leelavathi Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Veethi

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kamarajar Veethi?

Kamarajar Veethi falls under the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Chennerkuppam. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects the market standards set by the government.

When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Kamarajar Veethi?

The current guideline value of Kamarajar Veethi is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What are the stamp duty and registration fees for properties in Kamarajar Veethi?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which registration office covers Kamarajar Veethi?

Kamarajar Veethi is covered by the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Kamarajar Veethi?

Kamarajar Veethi is classified as Residential Class II Type - II, indicating its suitability for residential purposes.