Guideline Value for Kambar Street

Kambar Street guideline value

The current guideline value of Kambar Street in Erukancherry village, under the Madhavaram SRO, is Rs 2,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Kambar Street has changed

The guideline value for Kambar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 2,300 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,500 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value is Rs 2,500 per sq.ft, which is equal to the current value of Kambar Street.

• Kamatchi Street: Rs 1,900 per sq.ft (2024)
• Kamatchi 4th Street: Rs 1,900 per sq.ft (2024)
• Kamatchi 3rd Street: Rs 1,900 per sq.ft (2024)
• Kamatchi 2nd Street: Rs 1,900 per sq.ft (2024)
• Kamatchi 1st Street: Rs 1,900 per sq.ft (2024)
• Kandasamy Koil Colony Street: Rs 1,900 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 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, leading to a total of Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kambar Street?

Kambar Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erukancherry. It is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on the current market valuation set by the government.

When a property is registered, the guideline value serves as a benchmark for the transaction. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification of Kambar Street?

Kambar Street falls under the Residential Class III Type - I land classification.

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

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.