Guideline Value for KAMBAR STREET

Kambar Street guideline value

The current guideline value of Kambar Street in Padi village, under the Villivakkam SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Kambar Street has changed

The guideline value for Kambar Street has undergone several revisions over the years. In 2002, the value was Rs 251 per sq.ft, which increased to Rs 285 per sq.ft in 2003, marking a 14% rise. The value saw a significant jump to Rs 850 per sq.ft in 2007, reflecting a 198% increase. Following this, the value rose dramatically to Rs 3,100 per sq.ft in 2012, a 265% increase from the previous revision.

In 2017, the guideline value decreased to Rs 2,077 per sq.ft, a decline of 33%. However, this trend reversed in 2023 when the value rose to Rs 3,100 per sq.ft, a 49% increase. The most recent revision in 2024 set the value at Rs 3,400 per sq.ft, a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 1,255%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, indicating that Kambar Street's 2024 figure is below this median.

• Kamaraj Street (S.No.239/1): Rs 2,500 per sq.ft (2024)
• Kamaraj Nagar (Padikuppam Main Road): Rs 5,400 per sq.ft (2024)
• Kamaraj Nagar Lane: Rs 4,400 per sq.ft (2024)
• Kanniappan Street (U.R.Nagar): Rs 6,600 per sq.ft (2024)
• Karumariamman Koil Street (U.R.Nagar): Rs 6,600 per sq.ft (2024)
• Kalaivanar Nagar 'yesunathar 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 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total charges to Rs 3,06,000. 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 more details.

Which Sub Registrar Office covers Kambar Street?

Kambar Street falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Padi. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable to the government. This ensures that both buyers and sellers are aware of the official value assigned to the property for taxation purposes.

During the registration process, the guideline value ensures transparency and accountability in property transactions. It helps in preventing undervaluation or overvaluation of properties, thereby maintaining a fair process for all parties involved.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 251 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 1,255% over this period.

What are the other streets in Padi and their guideline values?

Other streets in Padi include Kamaraj Street at Rs 2,500 per sq.ft, Kamaraj Nagar at Rs 5,400 per sq.ft, and Kanniappan Street at Rs 6,600 per sq.ft, among others.

How is stamp duty calculated for properties in Kambar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,38,000.

Where is the Sub Registrar Office for Kambar Street located?

The Sub Registrar Office covering Kambar Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles the registration of property transactions in the area.