Guideline Value for KUMARAN KUDI ANNEXE

Kumaran Kudi Annexe guideline value

The current guideline value of Kumaran Kudi Annexe is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kumaran Kudi Annexe has changed

The guideline value for Kumaran Kudi Annexe has seen significant changes over the years. In 2003, the guideline value was Rs 199 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. The value then rose dramatically by 150% to Rs 3,000 per sq.ft in 2012. However, it decreased by 33% to Rs 2,010 per sq.ft in 2017. The value then increased by 49% to Rs 3,000 per sq.ft in 2023, and finally saw a rise of 10% to the current value of Rs 3,300 per sq.ft in 2024. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 1558%. Each revision reflects the changing landscape and development in the area, with the most notable increase occurring from 2003 to 2007.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam village, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Kumaran Kudi Annexe.

• KUMARAN KUDI 4th CROSS STREET: Rs 2,200 per sq.ft (2024)
• KUMARAN KUDI ANNEXE 1st STREET: Rs 2,200 per sq.ft (2024)
• KUMARAN KUDI 3rd CROSS STREET: Rs 2,200 per sq.ft (2024)
• KUMARAN KUDI ANNEXE 2nd STREET: Rs 2,200 per sq.ft (2024)
• KUMARAN KUDI 2nd CROSS STREET: Rs 2,200 per sq.ft (2024)
• KUMARAN KUDI ANNEXE 3rd STREET: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Kudi Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Kudi Annexe?

The Kumaran Kudi Annexe is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Okkiyamthuraipakkam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable fees. This ensures that the government receives the correct revenue based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value of Kumaran Kudi Annexe?

The current guideline value of Kumaran Kudi Annexe is Rs 3,300 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 199 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1558% over this period.

What is the stamp duty rate for properties in Kumaran Kudi Annexe?

The stamp duty rate for properties in Kumaran Kudi Annexe is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value to ensure proper compliance with registration requirements.