Guideline Value for KUMARAN COLONY 2ND STREET

Kumaran Colony 2nd Street guideline value

The current guideline value for Kumaran Colony 2nd Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kumaran Colony 2nd Street has changed

The guideline value for Kumaran Colony 2nd Street has seen several revisions over the years. In 2002, the value was Rs 551 per sq.ft, which increased to Rs 612 per sq.ft in 2003, marking an 11% rise. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a 63% increase. Following this, in 2012, the value was Rs 7,000 per sq.ft, which was a substantial 600% increase from the previous revision. However, in 2017, the value decreased to Rs 4,690 per sq.ft, representing a 33% drop. The value then increased again to Rs 7,000 per sq.ft in 2023, and finally to Rs 7,700 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1297%. The register has no figures for the years not mentioned in this summary.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 6,600 per sq.ft, placing Kumaran Colony 2nd Street's 2024 figure above that median.

• Kumaran Colony 1 St Street: Rs 7,700 per sq.ft (2024)
• Kuppiah Chetty Street: Rs 12,100 per sq.ft (2024)
• Kuyavar 1st Lane: Rs 5,500 per sq.ft (2024)
• Kuyavar 2nd Lane: Rs 5,500 per sq.ft (2024)
• Kuyavar 3rd Lane: Rs 5,500 per sq.ft (2024)
• Kuyavar Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. 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 information.

Which Sub Registrar Office covers Kumaran Colony 2nd Street?

The Sub Registrar Office that covers Kumaran Colony 2nd Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value for Kumaran Colony 2nd Street?

The current guideline value for Kumaran Colony 2nd Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 551 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 1297% over the years.

What is the stamp duty rate for properties in Kumaran Colony 2nd Street?

The stamp duty rate for properties in Kumaran Colony 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kumaran Colony 2nd Street?

The Sub Registrar Office for Kumaran Colony 2nd Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What are the other streets in Mambalam with guideline values?

Other streets in Mambalam under the Thiyagaraya nagar SRO include Kumaran Colony 1 St Street, Kuppiah Chetty Street, Kuyavar 1st Lane, Kuyavar 2nd Lane, Kuyavar 3rd Lane, and Kuyavar Street, each with their respective guideline values for 2024.