Guideline Value for Kambar Nagar 1st Cross Street

Kambar Nagar 1st Cross Street guideline value

The current guideline value of Kambar Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Kambar Nagar 1st Cross Street has changed

The guideline value for Kambar Nagar 1st Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 365 per sq.ft, which increased to Rs 400 per sq.ft in 2003, marking a 10% rise. The value further increased by 25% to Rs 500 per sq.ft in 2007. By 2012, the value reached Rs 2,000 per sq.ft, reflecting a significant increase of 300%. However, this value dropped by 33% to Rs 1,340 per sq.ft in 2017. The 2023 revision saw the value rise to Rs 2,000 per sq.ft, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 503%. There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value of Kambar Nagar 1st Cross Street is below this median.

• Kambar Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kambar Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kambar Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Kamatch Nagar 4th Main Road: Rs 3,600 per sq.ft (2024)
• Kamatch Nagar 4th Cross Street: Rs 4,950 per sq.ft (2024)
• Kamatch Nagar 3rd Main Road: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kambar Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be 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, making a total of Rs 1,98,000. It is important to note that the 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 Nagar 1st Cross Street?

The Kambar Nagar 1st Cross Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately and in compliance with local regulations. This value helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Kambar Nagar 1st Cross Street?

The current guideline value of Kambar Nagar 1st Cross 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 changed from Rs 365 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 503% over the years.

What are the stamp duty and registration fees for properties in Kambar Nagar 1st Cross Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Kambar Nagar 1st Cross Street?

The Virugambakkam Sub Registrar Office is responsible for Kambar Nagar 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Kambar Nagar 1st Cross Street?

The land classification for Kambar Nagar 1st Cross Street is Residential Class V Type - I, indicating its designation for residential use.