Guideline Value for KUMARAN 2ST STREET (WARD-20)

Kumaran 2st Street (Ward-20) guideline value

The current guideline value of Kumaran 2st 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 2st Street (Ward-20) has changed

The guideline value for Kumaran 2st Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 880 per sq.ft, an increase from Rs 800 per sq.ft in 2023, reflecting a 10% rise. Prior to that, the 2017 revision recorded a value of Rs 536 per sq.ft, which was a substantial increase of 49% from the previous 2012 figure of Rs 800 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007.

When we look at the overall changes from 2012 to 2024, the guideline value has increased by 10%. The 2012 to 2017 period saw a decrease of 33%, followed by the significant increase noted in subsequent years. The consistent revisions highlight the evolving property landscape in the area.

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 guideline value for these streets is Rs 770 per sq.ft, placing Kumaran 2st Street's 2024 value above this median.

• Kumaran 1st 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 2st 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, charged at 7%, would be Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that 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 details.

Which Sub Registrar Office covers Kumaran 2st Street (Ward-20)?

The Sub Registrar Office that covers Kumaran 2st 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 plays a crucial role during property registration in Konathi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. This ensures that both the buyer and seller are aware of the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Kumaran 2st Street (Ward-20)?

The current guideline value of Kumaran 2st 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 2023 to Rs 880 per sq.ft in 2024, a 10% increase. From 2017 to 2023, it increased by 49%, while from 2012 to 2017, it decreased by 33%.

What is the median guideline value for streets in Konathi?

The median guideline value for the 131 streets in Konathi under the Chengleput Joint II SRO is Rs 770 per sq.ft. Kumaran 2st Street's guideline value is above this median.

What are the stamp duty and registration fees for a property in Kumaran 2st 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. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kumaran 2st Street located?

The Sub Registrar Office for Kumaran 2st Street (Ward-20) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengalpattu registration zone.