Guideline Value for Kamarajar street

Kamarajar street guideline value

The current guideline value of Kamarajar street in Thirumazhisai village under the Poonamallee SRO is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Kamarajar street has changed

The guideline value for Kamarajar street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 117 per sq.ft. This increased to Rs 140 per sq.ft in 2003, marking a 20% rise. By 2007, the value saw a significant jump to Rs 200 per sq.ft, which is a 43% increase. In 2012, the value rose dramatically to Rs 1,000 per sq.ft, reflecting a 400% increase. However, in 2017, it decreased to Rs 670 per sq.ft, a reduction of 33%. The guideline value then increased to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,100 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 840%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Kamarajar street's value below that median.

• Kamarajar Street Arundhathipalayam: Rs 1,100 per sq.ft (2024)
• Kamarajar theruperumal koil pundthottam: Rs 1,100 per sq.ft (2024)
• Kasthuribai Nagar: Rs 1,430 per sq.ft (2024)
• Kasturibai street: Rs 1,100 per sq.ft (2024)
• Jaguar City: Rs 2,625 per sq.ft (2024)
• Kslashtri Baby Nagar: Rs 1,320 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarajar street?

The Sub Registrar Office that covers Kamarajar street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Thirumazhisai. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transfer of property ownership, as these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kamarajar street?

The current guideline value of Kamarajar street 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 seen several revisions, increasing from Rs 117 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 840% over this period.

What is the land classification for Kamarajar street?

Kamarajar street is classified as Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is set at 7% of the guideline value, while the registration fee is 2% of the guideline value. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for Kamarajar street?

The Sub Registrar Office covering Kamarajar street is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.