Guideline Value for KUMAR STREET MAIN AND CROSS STREET

Kumar Street Main And Cross Street guideline value

The current guideline value of Kumar Street Main And Cross Street in Koladi village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Kumar Street Main And Cross Street has changed

The guideline value for Kumar Street Main And Cross Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017, before rising to Rs 1,000 per sq.ft again in the 2023 revision. The most recent revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,000 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Kumar Street Main And Cross Street.

• Kumar Street 2nd Cross Road: Rs 1,100 per sq.ft (2024)
• Kumar Street: Rs 1,100 per sq.ft (2024)
• Lakeview (Koladi): Rs 660 per sq.ft (2024)
• Kulakkarai Street: Rs 660 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,105 per sq.ft (2024)
• Krv Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kumar Street Main And Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kumar Street Main And Cross Street?

The Kumar Street Main And Cross Street falls under the jurisdiction of the Chennai South Joint II 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 details.

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

The guideline value is a crucial factor when registering property in Koladi. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. The guideline value ensures that all transactions are conducted transparently and fairly, reflecting the official valuation set by the government.

When buyers and sellers engage in property transactions, the guideline value helps to establish a standard price point. This value is used to calculate the necessary fees, ensuring that both parties are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Kumar Street Main And Cross Street?

The current guideline value of Kumar Street Main And Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Kumar Street Main And Cross Street?

Kumar Street Main And Cross Street is classified as Residential Class II Type - I under the Chennai South Joint II SRO.

What are the stamp duty rates for properties in Koladi?

The stamp duty rate for properties in Koladi is currently set at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kumar Street Main And Cross Street?

The Sub Registrar Office covering Kumar Street Main And Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.