Guideline Value for New Kamaraj Nagar 1st Street

New Kamaraj Nagar 1st Street guideline value

The current guideline value of New Kamaraj Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of New Kamaraj Nagar 1st Street has changed

The guideline value for New Kamaraj Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 1,200 per sq.ft, but it increased to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with a 2024 guideline value range from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing New Kamaraj Nagar 1st Street's 2024 figure below that median.

• New Kamaraj Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 5th Cross Street: Rs 1,300 per sq.ft (2024)
• New Kamaraj Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• New Labour Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Kamaraj Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. Please 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 details.

Which Sub Registrar Office covers New Kamaraj Nagar 1st Street?

The Sub Registrar Office covering New Kamaraj Nagar 1st Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When a property is bought or sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers should 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 New Kamaraj Nagar 1st Street?

The current guideline value of New Kamaraj Nagar 1st Street 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 increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8%.

What are the other streets with the same guideline value in Tondaiarpet?

Other streets in Tondaiarpet with the same guideline value of Rs 1,300 per sq.ft in 2024 include New Kamaraj Nagar 2nd Street, 3rd Street, 4th Street, 5th Cross Street, 5th Street, and New Labour Lane.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in New Kamaraj Nagar 1st Street?

Stamp duty for properties in New Kamaraj Nagar 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000.