Guideline Value for KUMARAGURU COLONY 1ST STREET

Kumaraguru Colony 1st Street guideline value

The current guideline value of Kumaraguru Colony 1st Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village under the Chennai South Joint I SRO, falling under the Residential Class IV Type - I land classification.

How the guideline value of Kumaraguru Colony 1st Street has changed

The guideline value for Kumaraguru Colony 1st Street has undergone several revisions over the years. In 2002, the value was Rs 956 per sq.ft, which increased to Rs 1,058 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 1,300 per sq.ft, representing a 23% increase. The 2012 revision saw a significant jump to Rs 6,500 per sq.ft, reflecting a 400% increase. However, the value dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 6,500 per sq.ft, and the latest revision in 2024 raised it to Rs 7,150 per sq.ft, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 648%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value in this area is Rs 9,900 per sq.ft, placing the 2024 figure for Kumaraguru Colony 1st Street below this median.

• Kumaraguru Colony: Rs 7,150 per sq.ft (2024)
• Kumaraguru Colony 2nd Street: Rs 7,150 per sq.ft (2024)
• Kumaraguru Bara Street (Bharathi Nagar): 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)
• Kumanan Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaraguru Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total to Rs 6,43,500. 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 precise calculations.

Which Sub Registrar Office covers Kumaraguru Colony 1st Street?

The Kumaraguru Colony 1st Street falls under the jurisdiction of 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 during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these costs.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Kumaraguru Colony 1st Street?

The current guideline value of Kumaraguru Colony 1st Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 956 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 648% over the years.

What is the registration office for Kumaraguru Colony 1st Street?

The registration office for Kumaraguru Colony 1st Street is 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.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 at 7%.

Are there other streets in Thiruvanmiyur with similar guideline values?

Yes, there are several other streets in Thiruvanmiyur with the same guideline value of Rs 7,150 per sq.ft for 2024, including Kumaraguru Colony 2nd Street, Kumaraguru Bara Street (Bharathi Nagar), Kumaraguru Colony 3rd Street, and Kumaraguru Colony 4th Street.