Guideline Value for KAMBAR STREET

Kambar Street guideline value

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

How the guideline value of Kambar Street has changed

The guideline value of Kambar Street has seen significant changes over the years. In 2002, the guideline value was Rs 78 per sq.ft. It rose to Rs 91 per sq.ft in 2003, marking a 17% increase. The value continued to rise, reaching Rs 300 per sq.ft in 2007, which was a substantial increase of 230%. In 2012, the value was Rs 2,000 per sq.ft, reflecting a remarkable increase of 567% from the previous revision. However, it dropped to Rs 1,340 per sq.ft in 2017, showing a decrease of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by a final increase to Rs 2,200 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 2721%. There are no figures available for any other revisions for Kambar 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 Street.

• Kambar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kambar 1st Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kambar Street?

The Sub Registrar Office that covers Kambar 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 information.

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

The guideline value is a crucial factor in the registration of property transactions in Medavakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall cost of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar 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 78 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2721% over this period.

What is the classification of Kambar Street?

Kambar Street is classified as Residential Class I Type - I under the Chennai South Joint I SRO.

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

You can find information about stamp duty and registration fees using the stamp duty and registration fee calculator.

Which office handles the registration for Kambar Street?

The registration for Kambar Street is handled by 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.