Guideline Value for Kambar Nagar 5th Street Extension

Kambar Nagar 5th Street Extension guideline value

The current guideline value for Kambar Nagar 5th Street Extension 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 5th Street Extension has changed

The guideline value for Kambar Nagar 5th Street Extension has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 200%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then increased substantially to Rs 3,000 per sq.ft in 2023, reflecting a 49% hike. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. 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 value for these streets is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Kambar Nagar 5th Street Extension.

• Kambar Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kambar Nagar 5th Street Extension

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 cost 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 our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kambar Nagar 5th Street Extension?

Kambar Nagar 5th Street Extension is covered by 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 when buying or selling property in Kolathur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value for Kambar Nagar 5th Street Extension?

The current guideline value for Kambar Nagar 5th Street Extension 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 increased from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Kambar Nagar 5th Street Extension?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Kambar Nagar 5th Street Extension.

What is the land classification for Kambar Nagar 5th Street Extension?

The land classification for Kambar Nagar 5th Street Extension is Residential Class I Type - I.