Guideline Value for KAMBAR STREET

Kambar Street guideline value

The current guideline value of Kambar Street in Nanmangalam village, under the Pallavaram SRO, is Rs 1,960 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Kambar Street has changed

Over the years, the guideline value of Kambar Street has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. This represented a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, marking a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 1,960 per sq.ft, reflecting a change of 9% from the previous year.

It is important to note that the register has no figures for Kambar Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Kambar Street's current guideline value below that median.

• Kannagi Street: Rs 1,960 per sq.ft (2024)
• Kannappanayakkar Street: Rs 2,750 per sq.ft (2024)
• Kannappan Street: Rs 2,750 per sq.ft (2024)
• Karunai Sekaran 1 To 3 Streets: Rs 1,980 per sq.ft (2024)
• Karunai Sekaran Nagar: Rs 1,980 per sq.ft (2024)
• Kavingar Kannadasan Street: Rs 2,750 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 1,960 per sq.ft, the total guideline value amounts to Rs 19,60,000. The stamp duty at 7% would be Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, bringing the total fees to Rs 1,76,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kambar Street?

Kambar Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Nanmangalam. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration of property transactions. Understanding these figures can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,800 per sq.ft in 2012, dropping to Rs 1,206 per sq.ft in 2017, and then increasing to Rs 1,800 per sq.ft in 2023. The latest revision in 2024 sets it at Rs 1,960 per sq.ft.

What is the median guideline value in Nanmangalam?

The median guideline value for streets in Nanmangalam is Rs 2,750 per sq.ft, which is higher than the current value of Kambar Street.

What are the stamp duty rates for property in Kambar Street?

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

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.