Guideline Value for Kambar Street

Kambar Street guideline value

The current guideline value of Kambar Street in Mudichur village, under the Padappai SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Kambar Street has changed

The guideline value for Kambar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,600 per sq.ft in 2023, and then to Rs 1,760 per sq.ft in 2024, marking a 10% rise from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023. However, there was a decrease of 33% from the 2012 to 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for Kambar Street for the years 2002, 2003, and 2007.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which means Kambar Street's current value is below the median.

• Kannaki Street: Rs 1,210 per sq.ft (2024)
• Kamakshi Nagar: Rs 2,200 per sq.ft (2024)
• Karumari Amman Nagar: Rs 880 per sq.ft (2024)
• Kalaignar Street: Rs 1,210 per sq.ft (2024)
• Kalaignar Karunanithi Street: Rs 1,210 per sq.ft (2024)
• Krishna Raj Avenue: Rs 3,630 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 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, leading to a total of Rs 1,58,400. 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Mudichur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When a property transaction occurs, the guideline value helps ensure that the sale price reflects the prevailing market conditions, providing a standardized method for taxation. This protects both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,600 per sq.ft in 2023 to Rs 1,760 per sq.ft in 2024, marking a 10% increase. It also saw a significant rise from Rs 1,072 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2023.

What is the land classification of Kambar Street?

Kambar Street is classified as Residential Class I Type - I. This classification is important for determining the guideline value and other regulatory aspects.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Kambar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200 at a rate of 7%.