Guideline Value for Kambar Nagar Extension & Street

Kambar Nagar Extension & Street guideline value

The current guideline value of Kambar Nagar Extension & Street in Konnur village, under the Konnur SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Kambar Nagar Extension & Street has changed

The guideline value for Kambar Nagar Extension & Street has seen several revisions over the years. The 2012 revision set the value at Rs 5,500 per sq.ft, which was then reduced to Rs 3,685 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 5,500 per sq.ft in the 2023 revision, and finally, it reached Rs 6,000 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 9%. The revisions for the years 2002, 2003, and 2007 have no figures listed for this street.

Guideline values in Konnur

Konnur village features 249 streets under the Konnur SRO, with guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Kambar Nagar Extension & Street above this median at Rs 6,000 per sq.ft.

• Kambar Nagar and the Streets & Cross Street: Rs 6,000 per sq.ft (2024)
• Kambar Street: Rs 6,000 per sq.ft (2024)
• Kammankinaru Street: Rs 3,800 per sq.ft (2024)
• Kamaraj Nagar and Ist Street and 2nd Street: Rs 3,800 per sq.ft (2024)
• Kamaraj Nagar: Rs 3,800 per sq.ft (2024)
• Karnan Street: Rs 3,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kambar Nagar Extension & Street?

The Kambar Nagar Extension & Street falls under the jurisdiction of the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in Konnur.

Frequently asked questions

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

The current guideline value for Kambar Nagar Extension & Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2012 to Rs 3,685 per sq.ft in 2017, then back to Rs 5,500 per sq.ft in 2023, and finally to Rs 6,000 per sq.ft in 2024.

What is the land classification for Kambar Nagar Extension & Street?

Kambar Nagar Extension & Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Kambar Nagar Extension & Street?

The Sub Registrar Office covering Kambar Nagar Extension & Street is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Konnur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 at a rate of 7%.