Guideline Value for KAMBAR STREET

Kambar Street guideline value

The current guideline value of Kambar Street in Nemilicherry village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Kambar Street has changed

The guideline value for Kambar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,474 per sq.ft, marking a reduction of 33%. The value then increased to Rs 2,000 per sq.ft in the 2023 revision, reflecting a rise of 36%. The most recent 2024 revision has set the guideline value at Rs 2,200 per sq.ft, representing a 10% increase from the previous year.

The register has no figures for Kambar Street in the revisions for the years 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained the same at Rs 2,200 per sq.ft.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value in the village is Rs 2,160 per sq.ft, positioning Kambar Street's 2024 figure above this median.

• Kamaraj Street: Rs 2,200 per sq.ft (2024)
• Kannammal Nagar: Rs 2,160 per sq.ft (2024)
• Kanni Koil Street: Rs 2,160 per sq.ft (2024)
• Karigalan Street: Rs 2,160 per sq.ft (2024)
• Kakkan Street: Rs 2,200 per sq.ft (2024)
• Kabali Street: Rs 2,160 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and 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 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 Nemilicherry

The guideline value plays a crucial role when buying or selling property in Nemilicherry. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When a property is sold, the guideline value serves as a baseline for calculating the applicable taxes and fees. This ensures that both parties are aware of the financial obligations involved in the transaction, making the process transparent and straightforward.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes: it was Rs 2,200 per sq.ft in 2012, decreased to Rs 1,474 per sq.ft in 2017, increased to Rs 2,000 per sq.ft in 2023, and is now Rs 2,200 per sq.ft in 2024.

What is the land classification of Kambar Street?

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

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

The Pallavaram Sub Registrar Office, which covers Kambar Street, is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the 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 Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.