Guideline Value for KUMARAN KUDIL 5th STREET

KUMARAN KUDIL 5th STREET guideline value

The current guideline value of KUMARAN KUDIL 5th 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 is classified as Residential Class II Type - I.

How the guideline value of KUMARAN KUDIL 5th STREET has changed

The guideline value for KUMARAN KUDIL 5th STREET has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then dropped to Rs 2,010 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 3,000 per sq.ft. The most recent 2024 revision increased the value to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

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

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of KUMARAN KUDIL 5th STREET.

• KUMARAN KUDIL 4th STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN KUDIL 3rd STREET: Rs 3,300 per sq.ft (2024)
• Kumaran Kudi Main Road (Near Omr): Rs 3,900 per sq.ft (2024)
• KUMARAN KUDIL 2nd STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN KUDI ANNEXE 8th STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN KUDI ANNEXE 7th STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KUMARAN KUDIL 5th 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 to Rs 2,97,000. It is important to 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 information.

Which Sub Registrar Office covers KUMARAN KUDIL 5th STREET?

The KUMARAN KUDIL 5th STREET falls under 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 details.

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

The guideline value is a critical factor in property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value is set by the Registration Department and is revised periodically to reflect changes in the real estate market.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must ensure that the sale price is in line with the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of KUMARAN KUDIL 5th STREET?

The current guideline value of KUMARAN KUDIL 5th 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, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, indicating a 49% increase from that year to 2023.

What is the land classification of KUMARAN KUDIL 5th STREET?

KUMARAN KUDIL 5th STREET is classified as Residential Class II Type - I. This classification is important for determining the permissible uses of the land.

Where is the Neelankarai Sub Registrar Office located?

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 KUMARAN KUDIL 5th STREET?

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