Guideline Value for Kambar Nagar & Kambar Nagar Extension(Ayyavupuram)

Kambar Nagar & Kambar Nagar Extension(Ayyavupuram) guideline value

The current guideline value for Kambar Nagar & Kambar Nagar Extension(Ayyavupuram) is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Virugambakkam village and falls under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Kambar Nagar & Kambar Nagar Extension(Ayyavupuram) has changed

The guideline value for Kambar Nagar & Kambar Nagar Extension(Ayyavupuram) has undergone several revisions over the years. In 2007, the value was Rs 1,450 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 107%. However, this value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 saw the value increase to Rs 3,000 per sq.ft, followed by the latest revision in 2024, which raised it to Rs 3,300 per sq.ft, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 128%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Kambar Nagar & Kambar Nagar Extension(Ayyavupuram) below this median.

• Kamaraj Road: Rs 7,700 per sq.ft (2024)
• Kamarajar Main Road: Rs 7,700 per sq.ft (2024)
• Kanniga Nagar: Rs 3,300 per sq.ft (2024)
• Kanniga Nagar Road: Rs 3,300 per sq.ft (2024)
• Kanniyamman Koil Street: Rs 3,300 per sq.ft (2024)
• Kaliamman Koil Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kambar Nagar & Kambar Nagar Extension(Ayyavupuram)

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is essential 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 Kambar Nagar & Kambar Nagar Extension(Ayyavupuram)?

The Sub Registrar Office that covers Kambar Nagar & Kambar Nagar Extension(Ayyavupuram) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for additional assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Virugambakkam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted transparently and fairly.

When a property is sold, the buyer and seller must consider the guideline value to calculate applicable duties and fees. This ensures that all transactions are aligned with the official valuation set by the authorities, thereby preventing undervaluation of properties.

Frequently asked questions

What is the current guideline value for Kambar Nagar & Kambar Nagar Extension(Ayyavupuram)?

The current guideline value for Kambar Nagar & Kambar Nagar Extension(Ayyavupuram) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% rise. The overall increase from 2007 to 2024 is 128%.

What is the median guideline value in Virugambakkam?

The median guideline value for streets in Virugambakkam is Rs 4,400 per sq.ft. Kambar Nagar & Kambar Nagar Extension(Ayyavupuram) is below this median at Rs 3,300 per sq.ft.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the current guideline value of Rs 33,00,000, the total stamp duty and registration fees would amount to Rs 2,97,000, which includes a 7% stamp duty and a 2% registration fee.

Which office handles property registrations in Kambar Nagar & Kambar Nagar Extension(Ayyavupuram)?

The Virugambakkam Sub Registrar Office handles property registrations for Kambar Nagar & Kambar Nagar Extension(Ayyavupuram), located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.