Guideline Value for KUMANAN STREET

Kumanan Street guideline value

The current guideline value of Kumanan Street in Vengathur village under the Manavalanagar SRO is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - III.

How the guideline value of Kumanan Street has changed

The guideline value for Kumanan Street has seen several revisions over the years. In 2007, the value was set at Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012. However, it then decreased by 33% to Rs 871 per sq.ft in 2017. The value remained unchanged at Rs 1,300 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value rose by 49%, and from 2007 to 2024, the overall increase stands at 767%. The fluctuations in the guideline value reflect the various revisions made over the years, with the significant jump from Rs 150 in 2007 to Rs 1,300 in 2012 being particularly notable.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value in the village is Rs 1,000 per sq.ft, placing Kumanan Street's 2024 figure above this median.

• Kumaran Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Kumaran Street: Rs 700 per sq.ft (2024)
• Kuppuswamy Nagar: Rs 1,300 per sq.ft (2024)
• Kurungi Street: Rs 600 per sq.ft (2024)
• Kuruvayur Steet: Rs 600 per sq.ft (2024)
• Kutti Mani Street: Rs 600 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumanan Street?

The Kumanan Street falls under the jurisdiction of the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vengathur. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in establishing a baseline for the sale price. This ensures that the transaction is recorded accurately, reflecting the legal value of the property as recognized by the authorities.

Frequently asked questions

What is the current guideline value of Kumanan Street?

The current guideline value of Kumanan Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 150 per sq.ft in 2007 to Rs 1,300 in 2012, then decreasing to Rs 871 in 2017, and remaining at Rs 1,300 in 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, with Kumanan Street's 2024 value being above this median.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Which office handles property registrations for Kumanan Street?

The Manavalanagar Sub Registrar Office handles property registrations for Kumanan Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.