Guideline Value for KUMARAN KUDI

Kumaran Kudi guideline value

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

How the guideline value of Kumaran Kudi has changed

The guideline value for Kumaran Kudi has seen several revisions over the years. Starting from Rs 199 per sq.ft in 2003, it rose significantly to Rs 1,200 per sq.ft in 2007, marking a remarkable increase of 503%. In 2012, the value was Rs 3,000 per sq.ft, reflecting a 150% increase from the previous revision. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2003 to 2024, the Kumaran Kudi guideline value has risen by an impressive 1558%. The register has no figure for this street in 2002.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO carrying a 2024 guideline value 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.

• KUMARAN KUDI 1st CROSS STREET: Rs 2,200 per sq.ft (2024)
• KUMARAN KUDI 2nd CROSS STREET: Rs 2,200 per sq.ft (2024)
• KUMARAN KUDI 3rd CROSS STREET: Rs 2,200 per sq.ft (2024)
• KUMARAN KUDI 4th CROSS STREET: Rs 2,200 per sq.ft (2024)
• Kumaran Kudi Annexe: Rs 3,300 per sq.ft (2024)
• KUMARAN KUDI ANNEXE 1st STREET: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Kudi

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 the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kumaran Kudi?

The Kumaran Kudi area 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 plays a crucial role during the registration of property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

When buying or selling property, the guideline value is referenced to ensure compliance with local regulations. It is essential for buyers to understand this value as it directly impacts the overall cost of purchasing property in the area.

Frequently asked questions

What is the current guideline value of Kumaran Kudi?

The current guideline value of Kumaran Kudi 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 199 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting significant increases and a few decreases over the years.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, which is the same as the current value for Kumaran Kudi.

What are the registration fees for property in Kumaran Kudi?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Kumaran Kudi?

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