Guideline Value for Kamban Street

Kamban Street guideline value

The current guideline value of Kamban Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kamban Street has changed

The guideline value for Kamban Street has seen several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, before increasing to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, placing Kamban Street's 2024 figure above this median.

• Kamaraj Nagar Ist Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Colony 5th Street: Rs 3,850 per sq.ft (2024)
• Kamaraj Colony 4th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kamban Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamban Street?

Kamban Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. When buyers and sellers agree on a sale price, the registration process will consider the guideline value to ensure compliance with local regulations.

During the registration process, buyers must pay stamp duty and registration fees based on the guideline value or the agreed sale price, whichever is higher. This ensures that all property transactions are fairly assessed and documented according to the established guideline values.

Frequently asked questions

What is the current guideline value of Kamban Street?

The current guideline value of Kamban Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back up to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Kamban Street?

Kamban Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the other guideline values in Chitlapakkam?

Other streets in Chitlapakkam have varying guideline values, with some streets like Kamaraj Nagar Ist Street, Kamaraj Nagar 4th Street, Kamaraj Nagar 3rd Street, Kamaraj Nagar 2nd Street, Kamaraj Colony 5th Street, and Kamaraj Colony 4th Street all having a guideline value of Rs 3,850 per sq.ft in 2024.

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

The Sub Registrar Office covering Kamban Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.