Guideline Value for Kanakaraja Nagar

Kanakaraja Nagar guideline value

The current guideline value of Kanakaraja Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kanakaraja Nagar has changed

Over the years, the guideline value of Kanakaraja Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,300 per sq.ft in the 2024 revision, reflecting an increase of 8% from the previous year.

From the 2017 revision to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median of Rs 2,150 per sq.ft. The guideline value of Kanakaraja Nagar is below this median.

• Kanagaraja Cross Street: Rs 4,750 per sq.ft (2024)
• Kambar Street Extension: Rs 2,400 per sq.ft (2024)
• Kambar Street: Rs 2,700 per sq.ft (2024)
• Kambar Cross Street: Rs 2,400 per sq.ft (2024)
• Kannaki Street: Rs 880 per sq.ft (2024)
• Kamarajar Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Kanakaraja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kanakaraja Nagar?

The Sub Registrar Office that covers Kanakaraja Nagar 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 Rajakilpakkam

The guideline value plays a crucial role in the registration process of property transactions in Rajakilpakkam. It is used to determine the stamp duty and registration fees payable when a property is sold or purchased. Buyers and sellers must be aware of this value as it directly affects the overall cost of property transactions.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the necessary taxes are collected based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Kanakaraja Nagar?

The current guideline value of Kanakaraja Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Kanakaraja Nagar?

Kanakaraja Nagar is classified as Residential Class II Type - II, which is important for understanding its zoning and usage regulations.

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 in Kanakaraja Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.