Guideline Value for Kambar Salai

Kambar Salai guideline value

The current guideline value for Kambar Salai in Mugappair village, under the Konnur SRO, is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - I.

How the guideline value of Kambar Salai has changed

The guideline value for Kambar Salai has seen significant changes over the years. In the 2003 revision, the value was Rs 650 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. The 2012 revision saw a rise to Rs 5,000 per sq.ft, but this was followed by a decrease to Rs 3,350 per sq.ft in 2017. The next revision in 2023 brought the value up to Rs 5,000 per sq.ft, and as of 2024, the current guideline value is Rs 8,800 per sq.ft.

Notably, the increase from 2023 to 2024 is +76%, while the jump from 2017 to 2023 was +49%. The 2012 to 2017 period saw a decrease of -33%, while the 2007 to 2012 period experienced a substantial increase of +317%. Overall, from 2003 to 2024, the guideline value has risen by +1254%. The register has no figure for the year 2002 for this street.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, making Kambar Salai's 2024 figure above this median.

• Kamaraj nagar and 1 to 4 Cross Street: Rs 3,800 per sq.ft (2024)
• Kannadhasan Salai: Rs 5,500 per sq.ft (2024)
• Kannammal Street: Rs 7,100 per sq.ft (2024)
• Kamarajar Street: Rs 3,800 per sq.ft (2024)
• Kannathamman Koil Street: Rs 7,100 per sq.ft (2024)
• Kamarajar Nagar: Rs 5,500 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 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total cost Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kambar Salai?

The Kambar Salai falls under the Konnur Sub Registrar Office, located at Sub Register Office, 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 Mugappair

The guideline value is a crucial factor in the registration of property transactions in Mugappair. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is sold, the guideline value ensures that the transaction is officially recorded at a fair price, reflecting the local real estate market conditions. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Kambar Salai?

The current guideline value of Kambar Salai is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 650 per sq.ft in 2003 to Rs 8,800 per sq.ft in 2024, with various increases and decreases over the years.

What is the registration office for Kambar Salai?

The registration office for Kambar Salai is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Kambar Salai?

Stamp duty for properties in Kambar Salai is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 6,16,000.

What are the other streets in Mugappair with their guideline values?

Other streets in Mugappair include Kamaraj nagar and 1 to 4 Cross Street at Rs 3,800 per sq.ft, Kannadhasan Salai at Rs 5,500 per sq.ft, and Kannammal Street at Rs 7,100 per sq.ft among others.