Guideline Value for Kamarasan 5th Street

Kamarasan 5th Street guideline value

The current guideline value of Kamarasan 5th 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 5th Street has changed

The guideline value for Kamarasan 5th Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision, marking a significant drop of 33%. The most recent revision in 2024 saw an increase to Rs 2,200 per sq.ft, which represents a 64% rise from the 2017 figure.

Overall, comparing the 2012 revision to the 2024 revision, there has been a modest increase of 10%. It is important to note that there are no recorded figures for Kamarasan 5th Street for the years 2002, 2003, 2007, and 2023.

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 as of 2024. The median guideline value in this area is Rs 2,700 per sq.ft, indicating that Kamarasan 5th Street's 2024 figure is below this median.

• Kamarasan 4th Street: Rs 2,200 per sq.ft (2024)
• Kamarasan 3rd Street: Rs 2,200 per sq.ft (2024)
• Kamarasan 2nd Street: Rs 2,200 per sq.ft (2024)
• Kamarasan 1st 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 5th Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamarasan 5th Street?

The Kamarasan 5th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For further information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale, ensuring that the government collects the appropriate taxes based on the value of the property.

When a buyer or seller engages in a transaction, the guideline value helps to establish a fair and transparent process for both parties. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kamarasan 5th Street?

The current guideline value of Kamarasan 5th 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, and then increased to Rs 2,200 per sq.ft in 2024. This represents a significant rise of 64% from 2017 to 2024.

What are the guideline values of other streets in Kodungaiyur?

Other streets in Kodungaiyur have a guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value in the area is Rs 2,700 per sq.ft.

What fees are associated with buying property in Kamarasan 5th Street?

When buying property in Kamarasan 5th Street, buyers should consider the stamp duty, which is 7% of the guideline value, and the registration fee, which is 2%. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kamarasan 5th Street?

The Sub Registrar Office covering Kamarasan 5th Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registration processes for properties in the area.