Guideline Value for Kambar Street

Kambar Street guideline value

The current guideline value of Kambar Street in Neelankarai village, under the Neelankarai SRO, is Rs 1,700 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

Over the years, the guideline value of Kambar Street has seen significant changes. In the 2002 revision, the value was Rs 92 per sq.ft, which increased to Rs 100 per sq.ft in 2003. The value then rose to Rs 250 per sq.ft in 2007, followed by a substantial jump to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision saw a rise to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,700 per sq.ft.

Notable changes between revisions include a 9% increase from 2002 to 2003, a 150% increase from 2003 to 2007, and a remarkable 500% increase from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023, and finally a 13% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,748%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Kambar Street's 2024 figure below this median.

• Kamaraj Street: Rs 1,700 per sq.ft (2024)
• Kannaki Street: Rs 1,700 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,200 per sq.ft (2024)
• Kamarajar Street: Rs 1,700 per sq.ft (2024)
• Kalyani Nagar (near Vaidyalingam Salai): Rs 1,700 per sq.ft (2024)
• Kalathu Mettu Street: Rs 3,300 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost for these fees Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kambar Street?

Kambar Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Neelankarai. It is used to calculate the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the current guideline value to ensure that all fees are appropriately calculated and paid.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 92 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 1,748%.

What is the land classification for Kambar Street?

Kambar Street is classified under Residential Class III Type - I land classification.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 1,53,000.