Guideline Value for KAMBAR STREET

Kambar Street guideline value

The current guideline value of Kambar Street in Karapakkam village, under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - III land classification.

How the guideline value of Kambar Street has changed

The guideline value for Kambar Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 400 per sq.ft. This figure increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a rise of 275%. However, the value decreased to Rs 1,005 per sq.ft in the 2017 revision, a drop of 33%. The 2023 revision saw a substantial increase to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for Kambar Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 325%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value is Rs 1,700 per sq.ft, which is the same as the 2024 figure for Kambar Street.

• Kandhasamy Street: Rs 1,700 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,100 per sq.ft (2024)
• Kannappan Garden: Rs 1,700 per sq.ft (2024)
• Kanniappan Garden: Rs 1,700 per sq.ft (2024)
• Kalyani Narayanan Garden: Rs 1,100 per sq.ft (2024)
• Kaliangar Karunanidhi Street: Rs 2,200 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 falls under the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when acquiring property. The guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When selling property, the guideline value can influence the sale price, as it provides a reference point for both buyers and sellers. Buyers often consider the guideline value when making offers, while sellers may use it to justify their asking price during negotiations.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, marking a total increase of 325% over the years.

What is the stamp duty rate for properties in Kambar Street?

The stamp duty rate for properties in Kambar Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What other streets have similar guideline values in Karapakkam?

Other streets in Karapakkam with similar guideline values include Kandhasamy Street, Kannappan Garden, and Kanniappan Garden, all valued at Rs 1,700 per sq.ft in 2024.