Guideline Value for Kambar Nagar 1st Street

Kambar Nagar 1st Street guideline value

The current guideline value of Kambar Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class I Type - I.

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

The guideline value for Kambar Nagar 1st Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2023 and further increased to Rs 3,300 per sq.ft in 2024. The revisions for the years 2002 and 2003 do not have figures available for this street.

Between the revisions, the changes were notable. From 2007 to 2012, there was a remarkable increase of 200%. However, the value decreased by 33% from 2012 to 2017. The period from 2017 to 2023 saw a substantial increase of 49%, and the latest revision from 2023 to 2024 reflects a 10% rise. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with a 2024 guideline value range from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which aligns with the current guideline value of Kambar Nagar 1st Street.

• Kambar Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 3rd Cross Street: Rs 3,300 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 guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kambar Nagar 1st Street?

Kambar Nagar 1st Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

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

Kambar Nagar 1st Street is classified as Residential Class I Type - I, indicating its suitability 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, and is responsible for property registrations in this area.

How is stamp duty calculated for properties in Kambar Nagar 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,000.