Guideline Value for Kamarasan 3rd Street

Kamarasan 3rd Street guideline value

The current guideline value of Kamarasan 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Kamarasan 3rd Street has changed

The guideline value for Kamarasan 3rd Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft in 2024. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Kamarasan 3rd Street's 2024 figure below this median.

• Kamarasan 2nd Street: Rs 2,200 per sq.ft (2024)
• Kamarasan 4th Street: Rs 2,200 per sq.ft (2024)
• Kamarasan 1st Street: Rs 2,200 per sq.ft (2024)
• Kamarasan 5th Street: Rs 2,200 per sq.ft (2024)
• Kamatchi 1st Street (Kurinji Street): Rs 2,200 per sq.ft (2024)
• Kamatchi 2nd Street (Kurinji Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarasan 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please note that the 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 details.

Which Sub Registrar Office covers Kamarasan 3rd Street?

The Kamarasan 3rd Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Kodungaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kamarasan 3rd Street?

The current guideline value of Kamarasan 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 in 2023, and finally to Rs 2,200 in 2024.

What are the guideline values of other streets in Kodungaiyur?

Other streets in Kodungaiyur, such as Kamarasan 1st, 2nd, 4th, and 5th Streets, as well as Kamatchi 1st and 2nd Streets, all have a guideline value of Rs 2,200 per sq.ft in 2024.

What is the registration fee for properties in Kamarasan 3rd Street?

The registration fee for properties in Kamarasan 3rd Street is calculated based on the guideline value, which is currently Rs 2,200 per sq.ft. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for Kamarasan 3rd Street and surrounding areas.