Guideline Value for Kambar Nagar 2nd Street

Kambar Nagar 2nd Street guideline value

The current guideline value of Kambar Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kambar Nagar 2nd Street has changed

The guideline value for Kambar Nagar 2nd 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, marking a significant rise of 200%. However, this value decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revision in 2023 brought the guideline value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 has set it at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for Kambar Nagar 2nd Street for the years 2002 and 2003. 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 that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Kambar Nagar 2nd Street.

• Kambar Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kambar Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kambar Nagar 2nd Street?

The Sub Registrar Office that covers Kambar Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kolathur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value is set by the Registration Department and is subject to periodic revisions.

When a property is sold, the buyer and seller must ensure that the sale price is in line with the guideline value to avoid any legal complications. The registration process requires payment of the applicable stamp duty based on this value, ensuring that both parties are protected during the transaction.

Frequently asked questions

What is the current guideline value of Kambar Nagar 2nd Street?

The current guideline value of Kambar Nagar 2nd 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 stamp duty rate for property in Kambar Nagar 2nd Street?

The stamp duty rate for property in Kambar Nagar 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kambar Nagar 2nd Street located?

The Sub Registrar Office for Kambar Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees payable during property transactions. It serves as a reference point to ensure that the sale price is aligned with the established value.