Guideline Value for KAMBAR STREET

Kambar Street guideline value

The current guideline value of Kambar Street in Perungudi village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III 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 the 2002 revision, the value was Rs 264 per sq.ft. This increased significantly to Rs 650 per sq.ft in 2003, marking a change of +146%. The value continued to rise, reaching Rs 800 per sq.ft in 2007, which was an increase of +23%. However, in the 2012 revision, the value was set at Rs 2,500 per sq.ft, reflecting a decrease of -33% from the previous revision.

In the subsequent revisions, the guideline value rose again. The 2017 revision set the value at Rs 1,675 per sq.ft, an increase of +49% from 2012. The most recent revisions show a significant jump, with the 2023 revision at Rs 2,500 per sq.ft, and the current 2024 revision at Rs 2,800 per sq.ft, which is an increase of +12% from the previous year. There are no figures available for the revisions between 2012 and 2017 for Kambar Street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Kambar Street's 2024 value below this median.

• Kamaraj Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 5th Street: Rs 3,300 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value is a critical factor in property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

During the registration process, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions, protecting both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 264 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing an overall increase of +961% over the years.

What is the median guideline value in Perungudi?

The median guideline value in Perungudi is Rs 3,300 per sq.ft for the year 2024.

What are the stamp duty and registration fees for property in Kambar Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

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

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