Guideline Value for THANTHAI PERIYAR NAGAR - Kamarajar Salai

THANTHAI PERIYAR NAGAR - Kamarajar Salai guideline value

The current guideline value for THANTHAI PERIYAR NAGAR - Kamarajar Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of THANTHAI PERIYAR NAGAR - Kamarajar Salai has changed

The guideline value for THANTHAI PERIYAR NAGAR - Kamarajar Salai has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 100 per sq.ft. This increased to Rs 111 per sq.ft in 2003, followed by a significant rise to Rs 500 per sq.ft in 2007. The 2012 revision saw the value drop to Rs 2,000 per sq.ft, which then decreased further to Rs 1,340 per sq.ft in 2017. The value increased to Rs 2,000 per sq.ft again in 2023, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is 2100%. The changes between revisions are as follows: from 2002 to 2003, there was an increase of 11%; from 2003 to 2007, the value rose by 350%; from 2007 to 2012, it increased by 300%; from 2012 to 2017, there was a decrease of 33%; and from 2017 to 2023, the value rose by 49%. The latest change from 2023 to 2024 reflects a 10% increase.

Guideline values in Nerkundram

Nerkundram village has a range of guideline values for its streets, with the 2024 figures varying from Rs 1,650 to Rs 6,600 per sq.ft. The median value for the area is Rs 2,200 per sq.ft, which is the same as the current guideline value for THANTHAI PERIYAR NAGAR - Kamarajar Salai. Below are the guideline values for other streets in Nerkundram:

• THANTHAI PERIYAR NAGAR - Jeeva Salai Cross Street: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Jeeva Salai: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - M.G.R. Salai: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Indira Gandhi Salai: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Gandhi Salai: Rs 2,200 per sq.ft (2024)
• THANTHAI PERIYAR NAGAR - Barathiar Salai: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in THANTHAI PERIYAR NAGAR - Kamarajar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, and the registration fee, at 2%, would be Rs 44,000. This brings the total cost for stamp duty and registration to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers THANTHAI PERIYAR NAGAR - Kamarajar Salai?

The THANTHAI PERIYAR NAGAR - Kamarajar Salai area falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nerkundram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value ensures that the government receives the appropriate revenue from property transactions based on the established rates for different areas.

When selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in assessing the value of the property and ensures that the transaction is conducted transparently, complying with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for THANTHAI PERIYAR NAGAR - Kamarajar Salai?

The current guideline value for THANTHAI PERIYAR NAGAR - Kamarajar Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 100 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2100%.

What is the registration office for this area?

The Virugambakkam Sub Registrar Office covers THANTHAI PERIYAR NAGAR - Kamarajar Salai, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What fees are associated with buying property in this area?

When buying property, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

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

For more information and calculations regarding stamp duty and registration fees, you can use the stamp duty and registration fee calculator.