Guideline Value for Kambar Nagar 1st Street

Kambar Nagar 1st Street guideline value

The current guideline value of Kambar Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Adayalampattu village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

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

The guideline value for Kambar Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From the 2012 to 2017 period, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Adayalampattu

Adayalampattu has 19 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 3,850 per sq.ft, with the median being Rs 2,420 per sq.ft. Kambar Nagar 1st Street's 2024 figure is below this median.

• Kambar Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Kambar Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Kings Avenue: Rs 2,420 per sq.ft (2024)
• Jaganatha Nagar: Rs 2,420 per sq.ft (2024)
• Kulakkarai Street: Rs 2,420 per sq.ft (2024)
• Guru Brindavan Garden: Rs 2,750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kambar Nagar 1st Street?

The Sub Registrar Office covering Kambar Nagar 1st Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Adayalampattu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is sold or purchased.

When buying or selling property, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded correctly with the relevant authorities. It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Kambar Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

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

The land classification for Kambar Nagar 1st Street is Residential Class II Type - II.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Kambar Nagar 1st Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Kambar Nagar 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.