Guideline Value for KUMARAN AVENUE

Kumaran Avenue guideline value

The current guideline value of Kumaran Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Kumaran Avenue has changed

The guideline value for Kumaran Avenue has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. However, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision indicates a 10% increase. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which matches the current value for Kumaran Avenue.

• Kumari Nagar: Rs 1,980 per sq.ft (2024)
• Krishnaveniammal Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Krishnaveniammal Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Krishnaveniammal Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Krishnaveni Ammal Nagar: Rs 2,750 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Avenue?

Kumaran Avenue is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Iyyappanthangal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value as it directly impacts the costs involved in the registration process. The guideline value must be considered alongside the sale price to determine the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Kumaran Avenue?

The current guideline value of Kumaran Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kumaran Avenue has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Kumaran Avenue?

Kumaran Avenue is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find more information about stamp duty and registration fees?

For detailed information regarding stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which office handles registrations for Kumaran Avenue?

The registrations for Kumaran Avenue are handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.