Guideline Value for KUMARAGURU COLONY

Kumaraguru Colony guideline value

The current guideline value of Kumaraguru Colony, located in Thiruvanmiyur village, is Rs 7,150 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Kumaraguru Colony has changed

The guideline value of Kumaraguru Colony has undergone several revisions over the years. The 2012 revision set the value at Rs 6,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 4,355 per sq.ft. The 2023 revision increased the value to Rs 6,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 7,150 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

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 value for these streets is Rs 9,900 per sq.ft, making the current guideline value of Kumaraguru Colony below the median.

• Kumaraguru Bara Street (Bharathi Nagar): Rs 7,150 per sq.ft (2024)
• Kumaraguru Colony 1st Street: Rs 7,150 per sq.ft (2024)
• Kumaraguru Colony 2nd Street: 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

For a property measuring 1,000 sq.ft at the current guideline value of Rs 7,150 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees to Rs 6,43,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaraguru Colony?

The Kumaraguru Colony 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 is a crucial factor in the registration process of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, depending on which is higher, thus impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kumaraguru Colony?

The current guideline value of Kumaraguru Colony 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 6,500 per sq.ft in 2023 to Rs 7,150 per sq.ft in 2024. It was Rs 4,355 per sq.ft in 2017 and Rs 6,500 per sq.ft in 2012.

What is the land classification of Kumaraguru Colony?

Kumaraguru Colony is classified as Residential Class IV Type - I according to the Chennai South Joint I SRO guidelines.

What are the stamp duty and registration fees for properties in Kumaraguru Colony?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a property with a guideline value of Rs 71,50,000 incurs a total fee of Rs 6,43,500.

Where can I find the Sub Registrar Office for Kumaraguru Colony?

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