Guideline Value for KAMBAR STREET

Kambar Street guideline value

The current guideline value of Kambar Street in Saidapet village is Rs 5,500 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Kambar Street has changed

The guideline value for Kambar Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 631 per sq.ft. It increased to Rs 790 per sq.ft in 2003, marking a 25% increase. The value then rose to Rs 1,100 per sq.ft in 2007, reflecting a 39% change. By 2012, the value reached Rs 5,000 per sq.ft, which was a significant increase of 355%. However, this value dropped by 33% to Rs 3,350 per sq.ft in 2017. The 2023 revision set the value at Rs 5,000 per sq.ft, a 49% increase from the previous revision. Finally, the current guideline value is Rs 5,500 per sq.ft, marking a 10% increase from 2023.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 772%.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Kambar Street's 2024 figure above this median.

• Kannagi Street: Rs 4,400 per sq.ft (2024)
• Kamarajar Street: Rs 4,400 per sq.ft (2024)
• Karaneeswarar Koil Street: Rs 5,500 per sq.ft (2024)
• Kaleeswarar Koil Street: Rs 4,950 per sq.ft (2024)
• Karunagaran Street: Rs 3,300 per sq.ft (2024)
• Kavarai Street: Rs 4,950 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, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 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 Saidapet

The guideline value plays a crucial role in property transactions in Saidapet. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 631 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 772%.

What is the classification of Kambar Street?

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

Where is the Sub Registrar Office for Kambar Street located?

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 are stamp duty and registration fees calculated for properties in Kambar Street?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 4,95,000 in fees.