Guideline Value for KUMARAN 1ST STREET (WARD-20)

Kumaran 1st Street (Ward-20) guideline value

The current guideline value of Kumaran 1st Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Konathi village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kumaran 1st Street (Ward-20) has changed

The guideline value for Kumaran 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 536 per sq.ft, marking a reduction of 33%. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and then to Rs 880 per sq.ft in the 2024 revision, reflecting a 10% increase.

Between the 2017 and 2023 revisions, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, placing Kumaran 1st Street's 2024 figure above this median.

• Kumaran 2st Street (Ward-20): Rs 880 per sq.ft (2024)
• Kulakkarai Street (Ward-21): Rs 660 per sq.ft (2024)
• Konathi Selliamman Koil Street (Ward-21): Rs 660 per sq.ft (2024)
• Konathi 2nd Cross Street (Ward-21): Rs 660 per sq.ft (2024)
• Konathi 1st Cross Street (Ward-21): Rs 660 per sq.ft (2024)
• Lancor Uds: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran 1st Street (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total charges to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaran 1st Street (Ward-20)?

The Sub Registrar Office that covers Kumaran 1st Street (Ward-20) 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 Konathi

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Konathi, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

In essence, the guideline value serves as a benchmark for property transactions, ensuring that all parties are aware of the minimum value for registration purposes. This helps maintain transparency in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Kumaran 1st Street (Ward-20)?

The current guideline value of Kumaran 1st Street (Ward-20) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Kumaran 1st Street?

Kumaran 1st Street is classified as Residential Class I Type - II under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for properties in Kumaran 1st Street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Kumaran 1st Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Kumaran 1st Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.