Guideline Value for WEST KAMARAJAR ROAD

West Kamarajar Road guideline value

The current guideline value for West Kamarajar Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of West Kamarajar Road has changed

The guideline value for West Kamarajar Road has undergone several revisions over the years. In 2002, the guideline value was Rs 414 per sq.ft, which increased to Rs 456 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 700 per sq.ft in 2007, reflecting a 54% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, which was a substantial 329% increase from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 3,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, a 10% increase from the previous year. The register has no figure for this street in the years not mentioned.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median of Rs 6,000 per sq.ft. The guideline value for West Kamarajar Road is below this median.

• West College Road: Rs 6,000 per sq.ft (2024)
• Water Tank Road Cross Street: Rs 7,500 per sq.ft (2024)
• Vivekanandar Street: Rs 6,000 per sq.ft (2024)
• Visalakshi Street: Rs 5,000 per sq.ft (2024)
• Vinayagapuram Main Road: Rs 7,700 per sq.ft (2024)
• Vinayagapuram Ist Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in West Kamarajar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West Kamarajar Road?

The Sub Registrar Office that covers West Kamarajar Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is the benchmark used by the authorities to calculate the financial obligations associated with the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for West Kamarajar Road?

The current guideline value for West Kamarajar Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 414 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 697% over this period.

What is the median guideline value in Arumbakkam?

The median guideline value in Arumbakkam is Rs 6,000 per sq.ft, while West Kamarajar Road's value is below this median.

What are the stamp duty and registration fees for properties on this road?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for West Kamarajar Road?

The Kodambakkam Sub Registrar Office handles the registration for West Kamarajar Road, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.