Guideline Value for Kammalar Street

Kammalar Street guideline value

The current guideline value of Kammalar Street in Nungambakkam village is Rs 8,800 per sq.ft, effective from 1 July 2024. This street falls under the Chennai Central Joint II SRO and is classified as Residential Special Type - II.

How the guideline value of Kammalar Street has changed

Starting from the 2002 revision, the guideline value for Kammalar Street was Rs 1,589 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2007, marking a rise of 89%. The value then saw a substantial jump to Rs 8,000 per sq.ft in 2012, which was an increase of 167%. However, from 2012 to 2017, the guideline value decreased to Rs 5,360 per sq.ft, reflecting a decline of 33%. The next revision in 2023 set the value at Rs 8,000 per sq.ft, followed by the current figure of Rs 8,800 per sq.ft from the 2024 revision, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 454%. The register has no figure for this street for the year 2003.

Guideline values in Nungambakkam

Nungambakkam has a total of 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value range from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, which is the same as the current guideline value for Kammalar Street.

• Kamdar Nagar 3rd Street: Rs 8,800 per sq.ft (2024)
• Kamdar Nagar 2nd Street: Rs 8,800 per sq.ft (2024)
• Kamdar Nagar 1st Street: Rs 8,800 per sq.ft (2024)
• Kamdar Nagar 1st Main Road: Rs 8,800 per sq.ft (2024)
• Kamarajapuram (Slum): Rs 6,000 per sq.ft (2024)
• Kamarajapuram 6th Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kammalar Street

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. 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 further calculations.

Which Sub Registrar Office covers Kammalar Street?

Kammalar Street is covered by the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nungambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as it directly impacts the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the government receives its due revenue. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kammalar Street?

The current guideline value of Kammalar Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,589 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, showing an overall increase of 454% over the years.

What is the land classification for Kammalar Street?

Kammalar Street is classified as Residential Special Type - II under the Chennai Central Joint II SRO.

Where is the Sub Registrar Office for Kammalar Street located?

The Chennai Central Joint II Sub Registrar Office is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Kammalar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 88,00,000 would incur a stamp duty of Rs 6,16,000 at 7%.