Guideline Value for Kambar Street / Reddy Street

Kambar Street / Reddy Street guideline value

The current guideline value of Kambar Street / Reddy Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Alandur village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kambar Street / Reddy Street has changed

The guideline value for Kambar Street / Reddy Street has undergone several revisions over the years. In 2002, the value was Rs 780 per sq.ft, which increased to Rs 847 per sq.ft in 2003, marking a change of +9%. By 2007, the value rose significantly to Rs 1,800 per sq.ft, reflecting an increase of +113%. The value then saw a substantial jump to Rs 5,000 per sq.ft in 2012, which was a +178% change from the previous revision. However, in 2017, the value decreased to Rs 3,350 per sq.ft, representing a decline of -33%.

In the following years, the guideline value continued to rise. The 2023 revision set the value at Rs 5,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 5,500 per sq.ft, which is a +10% change. Overall, from 2002 to 2024, the guideline value has increased by +605%.

Guideline values in Alandur

In Alandur, there are 40 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 3,900 to Rs 11,000 per sq.ft, with a median value of Rs 5,000 per sq.ft. Kambar Street / Reddy Street's 2024 figure of Rs 5,500 per sq.ft is above this median.

• Karpaga Vinayagar Koil Street: Rs 5,500 per sq.ft (2024)
• Kaji Sayabu Street: Rs 4,400 per sq.ft (2024)
• Jilani sayabu Street: Rs 4,400 per sq.ft (2024)
• Jal Naiken Street: Rs 4,400 per sq.ft (2024)
• Ibrahim Street: Rs 4,400 per sq.ft (2024)
• Hussain Subedar Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kambar Street / Reddy Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kambar Street / Reddy Street?

The Sub Registrar Office that covers Kambar Street / Reddy Street 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 information.

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

The guideline value is a crucial factor when registering property transactions in Alandur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall costs associated with the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, but the duty is charged on the higher of the two.

Frequently asked questions

What is the current guideline value of Kambar Street / Reddy Street?

The current guideline value of Kambar Street / Reddy Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 780 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +605% over the years.

What is the land classification of Kambar Street / Reddy Street?

Kambar Street / Reddy Street is classified as Residential Class I Type - I.

Which office handles registrations for Kambar Street / Reddy Street?

The Alandur Sub Registrar Office handles registrations for Kambar Street / Reddy Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for property in Kambar Street / Reddy Street?

Stamp duty 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 and registration fees would amount to Rs 4,95,000.