Guideline Value for Kambar Street

Kambar Street guideline value

The current guideline value of Kambar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kambar Street has changed

The guideline value for Kambar Street has undergone several revisions over the years. The earliest recorded figure is Rs 256 per sq.ft in 2002, which increased to Rs 320 per sq.ft in 2003, marking a 25% rise. Following this, the value rose significantly to Rs 750 per sq.ft in 2007, reflecting a 134% increase. The value then surged to Rs 3,000 per sq.ft in 2012, showing a remarkable increase of 300%. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1189%. There are no figures available for Kambar Street for any revisions not mentioned above.

Guideline values in Parangimalai

In Parangimalai village, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Kambar Street's 2024 figure below this median.

• Kannagi Street: Rs 3,300 per sq.ft (2024)
• Kannan Street: Rs 3,850 per sq.ft (2024)
• Kamarajar Street (Kalaignar Nagar): Rs 2,750 per sq.ft (2024)
• Kamarajar Street: Rs 2,750 per sq.ft (2024)
• Karaiyar Koil Street: Rs 2,750 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 2,750 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost Rs 2,97,000. 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?

Kambar Street is covered by 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 information.

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

The guideline value is a crucial factor in property transactions in Parangimalai. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is important for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. Ensuring that the sale price is in line with the guideline value can help facilitate a smoother registration process.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 256 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1189% over the years.

What is the median guideline value in Parangimalai?

The median guideline value for streets in Parangimalai is Rs 3,850 per sq.ft, which is higher than the current value of Kambar Street.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Kambar Street?

The Chennai South Joint II Sub Registrar Office handles the registration for Kambar Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.