Guideline Value for New Kamaraj Nagar 3rd Street

New Kamaraj Nagar 3rd Street guideline value

The current guideline value of New Kamaraj Nagar 3rd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of New Kamaraj Nagar 3rd Street has changed

The guideline value for New Kamaraj Nagar 3rd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase from Rs 1,200 per sq.ft in the 2023 revision. Notably, the 2012 revision also recorded a value of Rs 1,200 per sq.ft, indicating no change from the previous year. The 2007 revision marked a significant increase, with the value rising from Rs 600 per sq.ft to Rs 1,200 per sq.ft in 2012, reflecting a 100% increase.

There are no figures available for the years 2017, 2003, and 2002 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft as of 2024. The median value for these streets is Rs 1,600 per sq.ft, placing New Kamaraj Nagar 3rd Street's guideline value below the median.

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

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, totaling 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 our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers New Kamaraj Nagar 3rd Street?

The Sub Registrar Office that covers New Kamaraj Nagar 3rd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. When registering a property, the guideline value is often the basis for calculating these costs, ensuring that the government receives the appropriate revenue from property transactions.

Additionally, the guideline value helps to maintain transparency in property transactions by providing a standard reference point for buyers and sellers. This ensures that all parties involved are aware of the official valuation of the property being exchanged.

Frequently asked questions

What is the current guideline value of New Kamaraj Nagar 3rd Street?

The current guideline value of New Kamaraj Nagar 3rd 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 changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117%. The value remained at Rs 1,200 per sq.ft from 2012 to 2023.

What is the land classification for New Kamaraj Nagar 3rd Street?

The land classification for New Kamaraj Nagar 3rd Street is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for New Kamaraj Nagar 3rd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in New Kamaraj Nagar 3rd Street?

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