Guideline Value for KAMBAR 1ST CROSS STREET

Kambar 1st Cross Street guideline value

The current guideline value of Kambar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kambar 1st Cross Street has changed

The guideline value for Kambar 1st Cross Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From the 2012 revision to the 2024 revision, the overall change has been a 10% increase. Notably, the value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Kambar 1st Cross Street.

• Kambar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kambar Street: Rs 2,200 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Kamaraj Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kambar 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees 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.

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

Which Sub Registrar Office covers Kambar 1st Cross Street?

The Sub Registrar Office that covers Kambar 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Medavakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that all transactions are recorded accurately.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Kambar 1st Cross Street?

The current guideline value of Kambar 1st Cross Street 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

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

Other streets in Medavakkam with a guideline value of Rs 2,200 per sq.ft in 2024 include Kambar 2nd Cross Street, Kambar Street, and Kamaraj Street.

What is the stamp duty for property in Kambar 1st Cross Street?

The stamp duty for property in Kambar 1st Cross Street is calculated at 7% of the guideline value, which amounts to Rs 1,54,000 for a 1,000 sq.ft plot at the current rate.

Where is the Sub Registrar Office for Kambar 1st Cross Street located?

The Sub Registrar Office for Kambar 1st Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.