Guideline Value for KUMARAKUPAMCOLONY

Kumarakupamcolony guideline value

The current guideline value of Kumarakupamcolony is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Tiruttani village, under the Thiruttani SRO, and is classified as Residential Class V Type - I.

How the guideline value of Kumarakupamcolony has changed

The guideline value for Kumarakupamcolony has seen significant changes over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the value to Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Tiruttani

In Tiruttani, there are 160 streets under the Thiruttani SRO with a 2024 guideline value ranging from Rs 548 to Rs 1,540 per sq.ft. The median value for these streets is Rs 825 per sq.ft, placing Kumarakupamcolony's current value below this median.

• Kumara Kuppam 1st Street: Rs 550 per sq.ft (2024)
• Kumara Kuppam 2nd Street: Rs 550 per sq.ft (2024)
• Kumara Kuppam 3rd Street: Rs 550 per sq.ft (2024)
• Kumara Kuppam 4th Street: Rs 550 per sq.ft (2024)
• Kumara Arunthathjiar Colony: Rs 550 per sq.ft (2024)
• Kurunji Nagar: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarakupamcolony

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty, calculated at 7%, would be Rs 38,500, and the registration fee at 2% would amount to Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Kumarakupamcolony?

The Kumarakupamcolony area falls under the Thiruttani Sub Registrar Office, located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is crucial during property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers often use this value to assess the fair price of the property, ensuring that the registration process aligns with government regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures transparency in property transactions and helps in maintaining accurate records for the government.

Frequently asked questions

What is the current guideline value of Kumarakupamcolony?

The current guideline value of Kumarakupamcolony is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the stamp duty rate for properties in Kumarakupamcolony?

The stamp duty rate for properties in Kumarakupamcolony is 7% of the guideline value or the sale price, whichever is higher.

Where is the Thiruttani Sub Registrar Office located?

The Thiruttani Sub Registrar Office is located at No.31, Old Taluk Office Compound, Kacheri Street Opposite, Gandhi Road Main, Thiruttani-631 209, Chennai registration zone.

How many streets in Tiruttani have a guideline value?

There are 160 streets in Tiruttani under the Thiruttani SRO that carry a 2024 guideline value, ranging from Rs 548 to Rs 1,540 per sq.ft.