Guideline Value for NEW KAMARAJ NAGAR

New Kamaraj Nagar guideline value

The current guideline value of New Kamaraj Nagar is Rs 2,700 per sq.ft, as per the 2024 revision effective from 1 July 2024. This area is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this street is Residential Class III Type - II.

How the guideline value of New Kamaraj Nagar has changed

The guideline value for New Kamaraj Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 550 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017 before rising to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 saw it increase to Rs 2,700 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision reflects an 8% increase. The overall change from 2007 to 2024 is a substantial increase of 391%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of New Kamaraj Nagar aligns with this median.

• New Kamaraj Nagar Nehruji 1st Street: Rs 2,700 per sq.ft (2024)
• New Kamaraj Nagar Nehruji 2nd Street: Rs 2,700 per sq.ft (2024)
• New Kamaraj Nagar Nehruji 3rd Street: Rs 2,700 per sq.ft (2024)
• New Kamaraj Nagar Nehruji 4th Street: Rs 2,700 per sq.ft (2024)
• New Farrons Road 4th Lane: Rs 3,300 per sq.ft (2024)
• New Farrons Road 3rd Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Kamaraj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. 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 more information.

Which Sub Registrar Office covers New Kamaraj Nagar?

The Sub Registrar Office that covers New Kamaraj Nagar is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Perambur. It is used to determine the stamp duty and registration fees payable when a property is bought or sold, ensuring that the government receives the appropriate revenue from real estate transactions.

When a buyer or seller approaches the registration office, the guideline value serves as a baseline for calculating the taxes involved. This value helps maintain transparency and consistency in property transactions, ensuring that all parties are aware of the financial implications of their dealings.

Frequently asked questions

What is the current guideline value of New Kamaraj Nagar?

The current guideline value of New Kamaraj Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting significant increases and a few decreases over the years.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur is Rs 2,700 per sq.ft, which is the same as the guideline value for New Kamaraj Nagar.

What are the stamp duty and registration fees for property in New Kamaraj Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Which office handles registrations for New Kamaraj Nagar?

The Purasaivakkam Sub Registrar Office handles registrations for New Kamaraj Nagar, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.