Guideline Value for KUMARAGURU AVENUE 5th STREET

KUMARAGURU AVENUE 5th STREET guideline value

The current guideline value for KUMARAGURU AVENUE 5th STREET is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of KUMARAGURU AVENUE 5th STREET has changed

Since the 2012 revision, the guideline value for KUMARAGURU AVENUE 5th STREET has seen significant changes. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased to Rs 2,500 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has further increased the value to Rs 2,800 per sq.ft, a change of 12% from the previous year.

It is important to note that there are no figures available for KUMARAGURU AVENUE 5th STREET in the revisions from 2002, 2003, and 2007. Overall, comparing the 2012 and 2024 revisions, there has been a 12% increase in the guideline value.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing KUMARAGURU AVENUE 5th STREET below this median at Rs 2,800 per sq.ft.

• KUMARAGURU AVENUE 4th STREET: Rs 2,800 per sq.ft (2024)
• KUMARAGURU AVENUE 3rd STREET: Rs 2,800 per sq.ft (2024)
• KUMARAGURU AVENUE 2nd STREET: Rs 2,800 per sq.ft (2024)
• KUMARAGURU AVENUE 1st STREET: Rs 2,800 per sq.ft (2024)
• Kumara Guru Avenue: Rs 2,800 per sq.ft (2024)
• Kulakkarai Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in KUMARAGURU AVENUE 5th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KUMARAGURU AVENUE 5th STREET?

The Sub Registrar Office that covers KUMARAGURU AVENUE 5th STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

When buying or selling property in Okkiyamthuraipakkam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value as per the government regulations.

Buyers and sellers should be aware that the guideline value can vary significantly across different streets and areas within Okkiyamthuraipakkam. Therefore, it is advisable to check the specific guideline value for the property in question to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value for KUMARAGURU AVENUE 5th STREET?

The current guideline value for KUMARAGURU AVENUE 5th STREET is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for KUMARAGURU AVENUE 5th STREET?

KUMARAGURU AVENUE 5th STREET is classified as Residential Class II Type - II under the Neelankarai SRO.

What are the registration fees based on the guideline value?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000 in fees.

Where can I find more information about the Sub Registrar Office?

The Neelankarai Sub Registrar Office covers KUMARAGURU AVENUE 5th STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. More information can be found through the provided link to find your SRO.