Guideline Value for KUMARAN HIGHWAY CITY

Kumaran Highway City guideline value

The current guideline value of Kumaran Highway City in Kuthampakkam village, under the Avadi SRO, is Rs 3,564 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

How the guideline value of Kumaran Highway City has changed

Over the years, the guideline value for Kumaran Highway City has seen several revisions. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,240 per sq.ft, which was then increased by 10% to Rs 3,564 per sq.ft in the 2024 revision.

This increase reflects a significant adjustment in the guideline value, moving from Rs 3,240 per sq.ft in 2023 to Rs 3,564 per sq.ft in 2024. The changes indicate a notable shift in the valuation of properties in this locality.

Guideline values in Kuthampakkam

In Kuthampakkam, there are 19 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,564 per sq.ft. The median value for these streets is Rs 1,642 per sq.ft, placing Kumaran Highway City above this median.

• Magica: Rs 1,642 per sq.ft (2024)
• Ms Dream Town Thiru Jayanthinadhar Nagar: Rs 880 per sq.ft (2024)
• Ms Fortune City: Rs 880 per sq.ft (2024)
• Ms Residency: Rs 770 per sq.ft (2024)
• Ms Residency Extension: Rs 990 per sq.ft (2024)
• Gowri Avenue: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Highway City

For a 1,000 sq.ft plot at the current guideline value of Rs 3,564 per sq.ft, the total guideline value amounts to Rs 35,64,000. The stamp duty, charged at 7%, would be Rs 2,49,480, and the registration fee at 2% would be Rs 71,280, bringing the total fees together to Rs 3,20,760. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Highway City?

The Sub Registrar Office that covers Kumaran Highway City is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Kuthampakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is considered as a benchmark for valuation. This ensures that the property is assessed fairly for taxation purposes, and it is essential for both buyers and sellers to understand how it impacts their financial obligations during a transaction.

Frequently asked questions

What is the current guideline value of Kumaran Highway City?

The current guideline value of Kumaran Highway City is Rs 3,564 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 3,240 per sq.ft in 2023 to Rs 3,564 per sq.ft in 2024, reflecting a 10% increase.

What are the other streets in Kuthampakkam with their guideline values?

Other streets in Kuthampakkam have varying guideline values, with the highest being Rs 3,564 per sq.ft for Kumaran Highway City and others ranging from Rs 550 to Rs 1,642 per sq.ft.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Kumaran Highway City?

The stamp duty for properties in Kumaran Highway City is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.