Guideline Value for Kabilar Street

Kabilar Street guideline value

The current guideline value of Kabilar Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kabilar Street has changed

The guideline value for Kabilar Street has seen several revisions over the years. In 2002, the value was Rs 294 per sq.ft, which increased to Rs 319 per sq.ft in 2003. The value then rose significantly to Rs 700 per sq.ft in 2007, marking an increase of 119%. Following this, the 2012 revision set the value at Rs 1,800 per sq.ft, an increase of 157% from the previous figure. However, the value dropped to Rs 1,206 per sq.ft in 2017, a decrease of 33%. The most recent revisions show a rise to Rs 1,800 per sq.ft in 2023 and further to Rs 1,900 per sq.ft in 2024, reflecting a 6% increase.

Overall, from 2002 to 2024, the guideline value has increased by 546%. It is important to note that there are no figures listed for Kabilar Street in the years not mentioned in the revision register.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Kabilar Street's 2024 guideline value is below this median.

• Kalyana Sundara Mudaliar Street: Rs 1,900 per sq.ft (2024)
• Kalyani Avenue: Rs 1,900 per sq.ft (2024)
• Kamarajar 1st Street: Rs 1,900 per sq.ft (2024)
• Kamarajar 2nd Street: Rs 1,900 per sq.ft (2024)
• Jawahar Street: Rs 4,400 per sq.ft (2024)
• Janakiram Nagar 6th Main Road: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kabilar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kabilar Street?

Kabilar Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kabilar Street?

The current guideline value of Kabilar Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 294 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 546% over the years.

What is the land classification for Kabilar Street?

Kabilar Street is classified as Residential Class II Type - I, which indicates its use for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 19,00,000 would incur a stamp duty of Rs 1,33,000 and a registration fee of Rs 38,000.