Guideline Value for Kambar Street

Kambar Street guideline value

The current guideline value of Kambar Street in Ullagaram village, under the Alandur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Kambar Street has changed

The guideline value of Kambar Street has seen significant changes over the years. In 2002, the guideline value was Rs 211 per sq.ft, which increased to Rs 237 per sq.ft in 2003, marking a 12% rise. The value then surged to Rs 1,000 per sq.ft in 2007, reflecting a substantial increase of 322%. Following this, the value doubled to Rs 2,000 per sq.ft in 2012, representing a 100% increase. However, there was a decrease to Rs 1,340 per sq.ft in 2017, a drop of 33%. The guideline value then rose to Rs 2,000 per sq.ft in 2023, and most recently, it has increased by 10% to reach Rs 2,200 per sq.ft in 2024.

There are no figures available in the register for the years not mentioned in the revisions. Overall, from 2002 to 2024, the guideline value has increased by 943%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. Kambar Street's 2024 guideline value of Rs 2,200 per sq.ft is below this median.

• Kannagi Street: Rs 2,800 per sq.ft (2024)
• Kamarajar Street: Rs 2,800 per sq.ft (2024)
• Kariyan Ponnan Street: Rs 2,800 per sq.ft (2024)
• Kalidas Street: Rs 2,200 per sq.ft (2024)
• Karunanidhi Nagar: Rs 2,200 per sq.ft (2024)
• Jothi Ramalingam Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kambar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kambar Street?

The Sub Registrar Office that covers Kambar 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 Ullagaram

The guideline value is an essential factor in property transactions in Ullagaram, as it determines the minimum value at which a property can be registered. When buying or selling property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is crucial for buyers and sellers to be aware of the current guideline value as it affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 211 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 943%.

What are the stamp duty and registration fees for property in Kambar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, with stamp duty at Rs 1,54,000 and registration fee at Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Kambar Street?

Kambar Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties and is the basis for calculating stamp duty and registration fees during property transactions.