Guideline Value for Kanagaraja Street

Kanagaraja Street guideline value

The current guideline value of Kanagaraja Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kanagaraja Street has changed

Looking back at the revisions, the guideline value for Kanagaraja Street was Rs 900 per sq.ft in 2023, which increased to Rs 950 per sq.ft in 2024, reflecting a change of +6%. Prior to that, in 2017, the value was Rs 603 per sq.ft, marking a significant increase of +49% to the 2023 figure. The 2012 revision also recorded a value of Rs 900 per sq.ft, which was a decrease of -33% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has seen a slight increase of +6%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Kanagaraja Street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO carrying a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. Kanagaraja Street's 2024 value of Rs 950 per sq.ft is below this median.

• Kamarajapuram Main Road: Rs 3,800 per sq.ft (2024)
• K.A.P. Viswanathan Street: Rs 2,400 per sq.ft (2024)
• Karpagam Avenue: Rs 1,900 per sq.ft (2024)
• Kalidasar Street: Rs 950 per sq.ft (2024)
• Kalathumedu Street: Rs 1,600 per sq.ft (2024)
• Kalamegam Street: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Kanagaraja Street

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty, charged at 7%, would be Rs 66,500, while the registration fee at 2% would be Rs 19,000, bringing the total fees to Rs 85,500. It is important to 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 further calculations.

Which Sub Registrar Office covers Kanagaraja Street?

The Sub Registrar Office that covers Kanagaraja Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

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

Frequently asked questions

What is the current guideline value of Kanagaraja Street?

The current guideline value of Kanagaraja Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2023 to Rs 950 per sq.ft in 2024. It was Rs 603 per sq.ft in 2017 and Rs 900 per sq.ft in 2012.

What is the land classification of Kanagaraja Street?

Kanagaraja Street is classified as Residential Class IV Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Kanagaraja Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 66,500.