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 881 per sq.ft, effective from 1 July 2024. This street is located in Thailavaram 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 2st Street (Ward-20) has changed

The guideline value for Kumaran 2st Street (Ward-20) has undergone 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 decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, rising to Rs 800 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 881 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Kumaran 2st Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Kumaran 2st Street's 2024 figure above this median.

• Kumaran 1st Street (Ward-20): Rs 881 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 881 per sq.ft, the total guideline value would be Rs 8,81,000. The stamp duty at 7% would amount to Rs 61,670, and the registration fee at 2% would be Rs 17,620, bringing the total cost for these fees to Rs 79,290. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

Kumaran 2st Street (Ward-20) is covered by 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 details.

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

The guideline value is a crucial factor when buying or selling property in Thailavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property transaction occurs, the guideline value helps in assessing the official value of the property, which can influence the total cost involved in the sale. This ensures transparency and standardization in property dealings within the region.

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 881 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 800 per sq.ft in 2023 to Rs 881 per sq.ft in 2024, a rise of 10%. Overall, from 2012 to 2024, the value has increased by 10%.

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

For a property valued at Rs 8,81,000, the stamp duty would be Rs 61,670 and the registration fee would be Rs 17,620, totaling Rs 79,290. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

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

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

The land classification for Kumaran 2st Street (Ward-20) is Residential Class I Type - II, indicating its designation for residential purposes.