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 Vallancheri village and falls under the Chengleput Joint II SRO, 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 undergone several revisions over the years. In 2012, the value was set at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 800 per sq.ft. The latest revision in 2024 has raised the guideline value to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 825 per sq.ft. The guideline value for Kumaran 1st Street (Ward-20) at Rs 880 per sq.ft is 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 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 and the sale price.

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

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 Vallancheri

The guideline value plays a crucial role during the registration of property transactions in Vallancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared with the sale price; the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are fairly valued according to the established guidelines.

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 (Ward-20)?

Kumaran 1st Street (Ward-20) is classified as Residential Class I Type - II under the Chengleput Joint II SRO.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 880 per sq.ft, the stamp duty would be calculated on Rs 8,80,000.