Guideline Value for KAMBAR STREET

Kambar Street guideline value

The current guideline value of Kambar Street in Thiruvottiyur village, under the Thiruvottiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Kambar Street has changed

The guideline value for Kambar Street has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 500% increase. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has been revised to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for Kambar Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 560%, highlighting the fluctuations in property values over the years.

Guideline values in Thiruvottiyur

In Thiruvottiyur, a total of 177 streets are listed under the Thiruvottiyur SRO with the 2024 guideline values ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value is Rs 3,300 per sq.ft, which aligns with the current guideline value of Kambar Street.

• Kanakkar Lane: Rs 3,300 per sq.ft (2024)
• Kannakkar Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,400 per sq.ft (2024)
• Kamala Nagar: Rs 3,300 per sq.ft (2024)
• Kamadevan Nagar: Rs 3,300 per sq.ft (2024)
• Karnikar Street(Kannkar 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Kambar Street?

Kambar Street falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers should be aware of these values to avoid disputes during the registration process and to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What are the stamp duty and registration fees for properties on Kambar Street?

The stamp duty for a property valued at Rs 33,00,000 is Rs 2,31,000, and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Kambar Street?

The Thiruvottiyur Sub Registrar Office handles property registrations for Kambar Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Kambar Street?

Kambar Street is classified as Residential Special Type - I, indicating its suitability for residential purposes.