Guideline Value for Kambar Nagar 8th Street

Kambar Nagar 8th Street guideline value

The current guideline value of Kambar Nagar 8th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the jurisdiction of the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kambar Nagar 8th Street has changed

The guideline value for Kambar Nagar 8th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 1,000 per sq.ft. This figure saw a significant increase to Rs 3,000 per sq.ft in 2012, marking a 200% rise. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, which also did not alter the figure. However, the 2024 revision brought the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

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 equal to the 2024 figure for Kambar Nagar 8th Street.

• Kambar Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 5th Street Extension: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Kambar Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kambar Nagar 8th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kambar Nagar 8th Street?

The Sub Registrar Office that covers Kambar Nagar 8th 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 plays a crucial role 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 is used to calculate the applicable stamp duty and registration fees. This ensures that all parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kambar Nagar 8th Street?

The current guideline value of Kambar Nagar 8th 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 registration office for Kambar Nagar 8th Street?

The registration office for Kambar Nagar 8th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Kambar Nagar 8th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a plot valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.

What other streets in Kolathur have the same guideline value?

Other streets in Kolathur, such as Kambar Nagar 7th Street, 9th Street, 6th Street, 5th Street Extension, 5th Street, and 5th Cross Street, all have a guideline value of Rs 3,300 per sq.ft for 2024.