Guideline Value for Kambar Salai

Kambar Salai guideline value

The current guideline value of Kambar Salai is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kambar Salai has changed

The guideline value of Kambar Salai has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which then changed to Rs 1,876 per sq.ft in the 2017 revision. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,800 per sq.ft, marking a rise of 49%. The latest revision in 2024 has set the guideline value at Rs 3,100 per sq.ft, reflecting an increase of 11% from the previous year.

It is important to note that there are no figures available for Kambar Salai in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which is the same as the guideline value for Kambar Salai.

• Kambar Street: Rs 3,100 per sq.ft (2024)
• Kamatchi Amman Street: Rs 3,550 per sq.ft (2024)
• Kamaraj Street: Rs 4,400 per sq.ft (2024)
• Kamaraj Salai: Rs 4,400 per sq.ft (2024)
• Kannadasan Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Kannadasan Nagar 2st Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kambar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, making the total cost for these fees Rs 2,79,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kambar Salai?

Kambar Salai falls under the jurisdiction of the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When registering a property, the buyer must pay the stamp duty 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 the area.

Frequently asked questions

What is the current guideline value of Kambar Salai?

The current guideline value of Kambar Salai is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification for Kambar Salai?

Kambar Salai is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Kambar Salai?

The Sub Registrar Office covering Kambar Salai is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Kambar Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 31,00,000 would incur a stamp duty of Rs 2,17,000 at the rate of 7%.