Guideline Value for Kambar Street

Kambar Street guideline value

The current guideline value of Kambar Street in Saligramam village, under the Virugambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II 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. In 2002, the value was Rs 412 per sq.ft, which increased to Rs 450 per sq.ft in 2003. The value then rose significantly to Rs 550 per sq.ft in 2007, followed by a substantial jump to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017 before climbing to Rs 4,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft.

Between the revisions, the most notable change occurred from 2007 to 2012, with an increase of 627%. From 2017 to 2023, the value rose by 49%. The current guideline value reflects a 10% increase from the previous year. Overall, from 2002 to 2024, there has been an increase of 968% in the guideline value for Kambar Street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Kambar Street.

• Kandan Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Street: Rs 5,500 per sq.ft (2024)
• Kannabiran Colony: Rs 6,600 per sq.ft (2024)
• Kannabiran Street: Rs 6,600 per sq.ft (2024)
• Kamaraj Nagar 7th Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 6th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kambar Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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?

The Sub Registrar Office that covers Kambar Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Saligramam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When you approach the registration office, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Kambar Street?

The current guideline value of Kambar Street is Rs 4,400 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 412 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 968% over this period.

What is the land classification for Kambar Street?

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

What are the stamp duty rates for property in Kambar Street?

The stamp duty for property transactions in Kambar Street is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where is the Sub Registrar Office for Kambar Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.