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 Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is 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. In 2012, the guideline value was Rs 800 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 536 per sq.ft, marking a decrease of 33%. However, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, and then further rose to Rs 880 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, making the 2024 figure for Kumaran 1st Street above that 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 amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Potheri. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the buyer will need to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kumaran 1st Street?

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 back 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?

The land classification for Kumaran 1st Street (Ward-20) is Residential Class I Type - II.

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

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 (Ward-20), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.