Guideline Value for Kambar Street (Nilamangai Nagar)

Kambar Street (Nilamangai Nagar) guideline value

The current guideline value of Kambar Street (Nilamangai Nagar) is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kambar Street (Nilamangai Nagar) has changed

Over the years, the guideline value for Kambar Street (Nilamangai Nagar) has seen several revisions. The earliest recorded revision was in 2007, where the guideline value was Rs 1,323 per sq.ft. This increased to Rs 3,500 per sq.ft in 2012, but then decreased to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,900 per sq.ft, marking an 11% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The jump from 2007 to 2012 was a remarkable 165%, but there was a decline of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 195%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is the same as the current value for Kambar Street (Nilamangai Nagar).

• Karikalan 1st Lane: Rs 3,900 per sq.ft (2024)
• Karikalan 4th Street: Rs 3,900 per sq.ft (2024)
• Karikalan 5th Street: Rs 3,900 per sq.ft (2024)
• Karikalan East 1st Street (East Karikalan Ist street): Rs 3,900 per sq.ft (2024)
• Karikalan East 2nd Street (East Karikalan 2nd street): Rs 3,900 per sq.ft (2024)
• Karikalan Street Main: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kambar Street (Nilamangai Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kambar Street (Nilamangai Nagar)?

The Sub Registrar Office that covers Kambar Street (Nilamangai Nagar) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kambar Street (Nilamangai Nagar)?

The current guideline value of Kambar Street (Nilamangai Nagar) is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent increase being from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, which is an 11% increase.

What is the land classification for Kambar Street (Nilamangai Nagar)?

Kambar Street (Nilamangai Nagar) is classified as Residential Class I Type - III, which indicates its suitability for residential development.

Which Sub Registrar Office handles transactions for Kambar Street?

The Alandur Sub Registrar Office is responsible for handling transactions for Kambar Street (Nilamangai Nagar), located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties on Kambar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a total stamp duty of Rs 2,73,000.