Guideline Value for KUMARAGURU COLONY 3RD STREET

Kumaraguru Colony 3rd Street guideline value

The current guideline value of Kumaraguru Colony 3rd Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kumaraguru Colony 3rd Street has changed

Over the years, the guideline value of Kumaraguru Colony 3rd Street has seen significant changes. 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. The value continued to rise to Rs 1,300 per sq.ft in 2007, a 23% increase from the previous year. Following this, the value surged dramatically to Rs 6,500 per sq.ft in 2012, reflecting a 400% increase. However, it then dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the value rose significantly to Rs 6,500 per sq.ft, marking a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 7,150 per sq.ft, which is a 10% increase from the 2023 figure. The overall increase from the 2002 value to the current 2024 value is 648%. There are no figures available for the revisions from years other than those listed.

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 Kumaraguru Colony 3rd Street's 2024 figure below that median.

• Kumaraguru Colony 1st Street: Rs 7,150 per sq.ft (2024)
• Kumaraguru Colony 2nd Street: Rs 7,150 per sq.ft (2024)
• Kumaraguru Colony 4th Street: Rs 7,150 per sq.ft (2024)
• Kumaraguru Colony: Rs 7,150 per sq.ft (2024)
• Kumaraguru Bara Street (Bharathi Nagar): 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 3rd 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 be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, making the total cost for these fees Rs 6,43,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaraguru Colony 3rd Street?

The Kumaraguru Colony 3rd Street is covered 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a baseline for calculating stamp duty and registration fees, ensuring that the government collects the appropriate taxes based on the property's assessed value.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is taxed fairly according to the established rates.

Frequently asked questions

What is the current guideline value of Kumaraguru Colony 3rd Street?

The current guideline value of Kumaraguru Colony 3rd 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 significantly from Rs 956 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 648% over this period.

What is the median guideline value in Thiruvanmiyur?

The median guideline value in Thiruvanmiyur is Rs 9,900 per sq.ft, which is higher than the current guideline value of Kumaraguru Colony 3rd Street.

What are the stamp duty rates applicable in Kumaraguru Colony 3rd Street?

The stamp duty rate applicable in Kumaraguru Colony 3rd Street is 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 Kumaraguru Colony 3rd Street?

The Sub Registrar Office covering Kumaraguru Colony 3rd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.