Guideline Value for New Kamaraj Nagar 5th Street

New Kamaraj Nagar 5th Street guideline value

The current guideline value of New Kamaraj Nagar 5th 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 5th Street has changed

The guideline value for New Kamaraj Nagar 5th Street has undergone several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which then doubled to Rs 1,200 per sq.ft in the 2012 revision. This figure remained unchanged until the 2023 revision, where it was still Rs 1,200 per sq.ft. However, the 2024 revision saw an increase to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%. It is important to note that the register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing New Kamaraj Nagar 5th Street's 2024 figure below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total Rs 1,17,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers New Kamaraj Nagar 5th Street?

The Sub Registrar Office that covers New Kamaraj Nagar 5th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property registration in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of New Kamaraj Nagar 5th Street?

The current guideline value of New Kamaraj Nagar 5th 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, representing a total increase of 117% over the years.

What is the registration office for New Kamaraj Nagar 5th Street?

The registration office for New Kamaraj Nagar 5th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in New Kamaraj Nagar 5th Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees by using our stamp duty and registration fee calculator.