Guideline Value for KAMBAR STREET

Kambar Street guideline value

The current guideline value of Kambar Street in Ramapuram village, under the Chennai South Joint II SRO, is Rs 3,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kambar Street has changed

The guideline value for Kambar Street has seen significant changes over the years. In the 2002 revision, the value was Rs 245 per sq.ft. This increased to Rs 304 per sq.ft in 2003, marking a 24% rise. The value continued to climb, reaching Rs 1,100 per sq.ft in 2007, which was a substantial increase of 262%. The 2012 revision recorded a decrease to Rs 2,800 per sq.ft, a drop of 33%. However, in 2017, the value rose again to Rs 1,876 per sq.ft, followed by a notable increase to Rs 2,800 per sq.ft in 2023, and finally reaching Rs 3,100 per sq.ft in the 2024 revision, reflecting an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1165%. There are no figures available for the revisions in years other than those stated.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value is Rs 3,100 per sq.ft, which aligns with the current value of Kambar Street.

• Kambar Salai: Rs 3,100 per sq.ft (2024)
• Kamatchi Amman Street: Rs 3,550 per sq.ft (2024)
• Kamaraj Street: Rs 4,400 per sq.ft (2024)
• Kamaraj Salai: Rs 4,400 per sq.ft (2024)
• Kannadasan Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 2st Street: Rs 3,100 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 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, making the total fees together Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kambar Street?

Kambar Street falls under the Chennai South Joint II 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 Ramapuram

The guideline value plays a crucial role in property transactions, as it is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value during the registration process to ensure compliance with local regulations.

When a property is registered, the guideline value or the sale price, whichever is higher, is taken into account for calculating the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 245 per sq.ft in 2002 to Rs 3,100 per sq.ft in 2024, marking an overall increase of 1165% over this period.

What is the land classification for Kambar Street?

Kambar Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Kambar Street?

The Sub Registrar Office for Kambar Street is 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 properties in Kambar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 3,100 per sq.ft would incur a total guideline value of Rs 31,00,000, leading to applicable duties.