Guideline Value for Kambar Street

Kambar Street guideline value

The current guideline value of Kambar Street in Velachery village is Rs 4,950 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Kambar Street has changed

The guideline value for Kambar Street has undergone several revisions since 2002. The 2002 revision set the value at Rs 414 per sq.ft, which increased to Rs 745 per sq.ft in 2003, marking an increase of 80%. The value continued to rise, reaching Rs 1,800 per sq.ft in 2007, a significant jump of 142%. In 2012, the value adjusted to Rs 4,500 per sq.ft, reflecting a 150% increase from the previous revision. However, the 2017 revision saw a decrease to Rs 3,015 per sq.ft, which was a reduction of 33%.

As of the latest 2024 revision, the guideline value stands at Rs 4,950 per sq.ft, representing a substantial increase of 64% from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 1,096%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Kambar Street's 2024 value above this median.

• Kambar Street, Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Kambar Street (Dhandeeswaram Extn): Rs 4,950 per sq.ft (2024)
• Kamatchi Nagar, Sri Nagar Colony: Rs 3,850 per sq.ft (2024)
• Kamatchi Nagar: Rs 3,300 per sq.ft (2024)
• Kamatchi Amman Street / Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Kamatchi Amman Street: Rs 3,850 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 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, making the total charges Rs 4,45,500. It is important to note that the 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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When purchasing a property, the guideline value serves as a benchmark to ensure that the transaction is registered at a fair value, which helps in maintaining transparency in property dealings. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 414 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 1,096%.

What is the land classification for Kambar Street?

Kambar Street is classified as Residential Class II Type - I according to the guidelines set by the Velacheri SRO.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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 with a guideline value of Rs 49,50,000 would incur a stamp duty of Rs 3,46,500 at 7%.