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 Potheri 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

In the 2012 revision, the guideline value for Kumaran 2st Street was Rs 800 per sq.ft. This figure remained unchanged until the 2017 revision, when it dropped to Rs 536 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 800 per sq.ft in the 2023 revision, followed by a further increase to Rs 880 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. It is important to note that 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 Potheri is Rs 770 per sq.ft, placing Kumaran 2st Street's 2024 figure 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 at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total 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 precise calculations based on your property details.

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

The Kumaran 2st Street (Ward-20) falls under 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 Potheri

The guideline value is a crucial factor in property transactions in Potheri, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

Additionally, the guideline value serves as a benchmark for property valuation, helping buyers and sellers understand the market conditions and make informed decisions. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

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 seen several revisions: it was Rs 800 per sq.ft in 2012, dropped to Rs 536 per sq.ft in 2017, increased to Rs 800 per sq.ft in 2023, and is now Rs 880 per sq.ft in 2024.

What is the land classification of Kumaran 2st Street (Ward-20)?

Kumaran 2st Street (Ward-20) is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. These fees are based on the higher of the guideline value or the sale price of the property.

Which Sub Registrar Office covers this area?

The Chengleput Joint II Sub Registrar Office covers Kumaran 2st Street (Ward-20), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.