Guideline Value for Kambar Nagar 3rd Cross Street

Kambar Nagar 3rd Cross Street guideline value

The current guideline value of Kambar Nagar 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, and it falls under the Residential Class V Type - I land classification.

How the guideline value of Kambar Nagar 3rd Cross Street has changed

The guideline value for Kambar Nagar 3rd Cross Street has undergone 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% increase. By 2007, the value surged to Rs 500 per sq.ft, reflecting a 25% rise. The value then saw a significant jump to Rs 2,000 per sq.ft in 2012, which was a 300% increase. However, in 2017, it decreased to Rs 1,340 per sq.ft, showing a decline of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently, it reached Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 503%. Notably, there are no figures available for the revisions in years not mentioned in the register 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. Kambar Nagar 3rd Cross Street's 2024 guideline value is below this median.

• Kambar Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kambar Nagar 1st 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 3rd 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 amounts to 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, bringing the total fees together to 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kambar Nagar 3rd Cross Street?

The Kambar Nagar 3rd 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it helps in ensuring compliance with legal requirements during property transactions. It also provides a framework for valuing properties within the region.

Frequently asked questions

What is the current guideline value of Kambar Nagar 3rd Cross Street?

The current guideline value of Kambar Nagar 3rd 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, marking an overall increase of 503% over the years.

What is the land classification for Kambar Nagar 3rd Cross Street?

Kambar Nagar 3rd Cross Street is classified under Residential Class V Type - I.

What are the stamp duty and registration fees for a property in Kambar Nagar 3rd Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, with a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers Kambar Nagar 3rd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.