Guideline Value for KUMARAGURUBARAR STREET (WARD -4)

Kumaragurubarar Street (Ward -4) guideline value

The current guideline value of Kumaragurubarar Street (Ward -4) is Rs 1,321 per sq.ft. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, with a land classification of Residential Special Type - V.

How the guideline value of Kumaragurubarar Street (Ward -4) has changed

Since the 2012 revision, the guideline value for Kumaragurubarar Street has seen several changes. In 2012, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,200 per sq.ft. The most recent revision in 2024 set the value at Rs 1,321 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with a 2024 guideline value range from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Kumaragurubarar Street above this median.

• Kumaranar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Kumaran Nagar: Rs 990 per sq.ft (2024)
• Kulakkarai Street (Ward -17): Rs 550 per sq.ft (2024)
• Kulakkarai Street Old (Ward -18): Rs 660 per sq.ft (2024)
• Kulakkarai Street Old (Ward -15): Rs 660 per sq.ft (2024)
• Kundalakesi Street (N): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaragurubarar Street (Ward -4)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total to Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumaragurubarar Street (Ward -4)?

The Sub Registrar Office that covers Kumaragurubarar Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial when registering property transactions in Ninna Karai. It serves as the basis for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Kumaragurubarar Street (Ward -4)?

The current guideline value of Kumaragurubarar Street (Ward -4) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the median guideline value for streets in Ninna Karai?

The median guideline value for the 449 streets in Ninna Karai is Rs 1,100 per sq.ft, with Kumaragurubarar Street currently above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,21,000, the stamp duty is Rs 92,470 and the registration fee is Rs 26,420, totaling Rs 1,18,890.

Which office handles registrations for Kumaragurubarar Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Kumaragurubarar Street (Ward -4), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.