Guideline Value for KUMANAN STREET

Kumanan Street guideline value

The current guideline value of Kumanan Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and is classified as Residential Special Type - II.

How the guideline value of Kumanan Street has changed

The guideline value for Kumanan Street has seen significant changes over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased to Rs 10,000 per sq.ft in 2012. However, there was a decrease to Rs 6,700 per sq.ft in 2017. The value then rose to Rs 10,000 per sq.ft in 2023, and finally reached Rs 11,000 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Thiruvanmiyur

Within Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. Kumanan Street's 2024 value of Rs 11,000 per sq.ft is above the median value of Rs 9,900 per sq.ft for the area.

• Kumaraguru Bara Street (Bharathi Nagar): Rs 7,150 per sq.ft (2024)
• Kumaraguru Colony: Rs 7,150 per sq.ft (2024)
• Kumaraguru Colony 1st Street: Rs 7,150 per sq.ft (2024)
• Kumaraguru Colony 2nd Street: Rs 7,150 per sq.ft (2024)
• Kumaraguru Colony 3rd Street: Rs 7,150 per sq.ft (2024)
• Kumaraguru Colony 4th Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Kumanan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumanan Street?

Kumanan Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thiruvanmiyur. It is used to determine the stamp duty and registration fees payable during the registration process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be considered for calculating duties.

When purchasing property, it is essential to check the current guideline value to ensure compliance with local regulations and to understand the financial implications of the transaction. This value is regularly updated and reflects the current market conditions in the area.

Frequently asked questions

What is the current guideline value of Kumanan Street?

The current guideline value of Kumanan Street is Rs 11,000 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 3,000 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 267%.

What is the land classification for Kumanan Street?

Kumanan Street is classified as Residential Special Type - II under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for property in Kumanan Street?

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Which office handles the registration for Kumanan Street?

The registration for Kumanan Street is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.