Guideline Value for KAMBAR STREET

Kambar Street guideline value

The current guideline value of Kambar Street in Vanagaram village is Rs 1,320 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 - II.

How the guideline value of Kambar Street has changed

Since 2002, the guideline value for Kambar Street has seen significant changes. The register shows a value of Rs 79 per sq.ft in 2002, which increased to Rs 91 per sq.ft in 2003, marking a 15% rise. By 2007, the value jumped to Rs 500 per sq.ft, an increase of 449%. The subsequent revisions saw the value rise to Rs 1,200 per sq.ft in 2012, then drop to Rs 804 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 1,200 per sq.ft in 2023, before reaching the current figure of Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1571%. The register has no figures for revisions in the years not mentioned.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value is Rs 1,660 per sq.ft, placing Kambar Street's 2024 figure below this median.

• Kambar Street 1st Cross Street: Rs 1,320 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,660 per sq.ft (2024)
• Kamatchiamman Nagar: Rs 1,660 per sq.ft (2024)
• Kandhamapuram: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar 1st Cross Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Kambar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process of property transactions in Vanagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. It is crucial for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 79 per sq.ft to Rs 1,320 per sq.ft in 2024, reflecting a significant overall increase of 1571%.

What is the land classification of Kambar Street?

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

Where can I find the registration office for Kambar Street?

The registration office covering 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 the stamp duty calculated for property in Kambar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 92,400.