Guideline Value for KUMARAN KUDIL 2nd STREET

KUMARAN KUDIL 2nd STREET guideline value

The current guideline value for KUMARAN KUDIL 2nd STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of KUMARAN KUDIL 2nd STREET has changed

The guideline value for KUMARAN KUDIL 2nd STREET has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 3,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year’s rate of Rs 3,000 per sq.ft.

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

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, 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 in this village is Rs 3,300 per sq.ft, which is equal to the current guideline value for KUMARAN KUDIL 2nd STREET.

• KUMARAN KUDI ANNEXE 8th STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN KUDIL 3rd STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN KUDIL 4th STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN KUDI ANNEXE 7th STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN KUDIL 5th STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN KUDI ANNEXE 6th STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KUMARAN KUDIL 2nd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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 for these fees to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers KUMARAN KUDIL 2nd STREET?

The Sub Registrar Office that covers KUMARAN KUDIL 2nd STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for calculating the stamp duty and registration fees that are applicable when a property is bought or sold.

Frequently asked questions

What is the current guideline value for KUMARAN KUDIL 2nd STREET?

The current guideline value for KUMARAN KUDIL 2nd STREET 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 from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, an increase of 10%. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase from that point to 2023.

What is the land classification for KUMARAN KUDIL 2nd STREET?

KUMARAN KUDIL 2nd STREET is classified under Residential Class II Type - I, indicating its suitability for residential purposes.

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 stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at the rate of 7%.