Guideline Value for KAMBAR STREET

Kambar Street guideline value

The current guideline value of Kambar Street in Pallikaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Kambar Street has changed

The guideline value for Kambar Street has seen several revisions over the years. Starting from Rs 119 per sq.ft in 2002, it increased to Rs 140 per sq.ft in 2003, marking an 18% rise. The value then significantly jumped to Rs 400 per sq.ft in 2007, which reflects a 186% increase. By 2012, the guideline value further escalated to Rs 1,500 per sq.ft, a notable 275% rise from the previous revision.

The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, which is a 10% increase from the 2012 figure. Overall, from 2002 to 2024, the guideline value has increased by 1287%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, which is the same as the 2024 figure for Kambar Street.

• Kambar Street 4th Ward: Rs 1,650 per sq.ft (2024)
• Kamatchi Colony /Nagar: Rs 1,650 per sq.ft (2024)
• Kanchi Street Vgp Shanthi Nagar: Rs 2,750 per sq.ft (2024)
• Kamatchiamman Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Kamatchiamman Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Kamatchiamman Nagar 3rd Street: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kambar Street?

Kambar Street is covered 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue based on the current market conditions as reflected in the guideline value.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 119 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 1287% over the years.

What is the land classification for Kambar Street?

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

Where can I find the registration office for Kambar Street?

The registration office for 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.

How is stamp duty calculated for properties in Kambar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would amount to Rs 1,15,500.