Guideline Value for KUMARAN NAGAR SAROJA AMMAL STREET

Kumaran Nagar Saroja Ammal Street guideline value

The current guideline value of Kumaran Nagar Saroja Ammal Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village under the Pallavaram SRO and falls under the Residential Class I Type - II land classification.

How the guideline value of Kumaran Nagar Saroja Ammal Street has changed

The guideline value for Kumaran Nagar Saroja Ammal Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was then reduced to Rs 1,541 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,300 per sq.ft in the 2023 revision, and then rose to Rs 2,530 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023. However, from the 2012 revision to the 2017 revision, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which is the same as the current value for Kumaran Nagar Saroja Ammal Street.

• Kumaran Nagar: Rs 2,530 per sq.ft (2024)
• Kumaran Colony: Rs 1,980 per sq.ft (2024)
• Kula Street: Rs 1,080 per sq.ft (2024)
• Lake view Street (Erikkarai Street): Rs 2,530 per sq.ft (2024)
• Lakshmi Colony: Rs 2,530 per sq.ft (2024)
• Lakshmi Colony Extn: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar Saroja Ammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600. Together, the total cost for stamp duty and registration fee would be Rs 2,27,700. It is important to note that 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 more details.

Which Sub Registrar Office covers Kumaran Nagar Saroja Ammal Street?

The Sub Registrar Office that covers Kumaran Nagar Saroja Ammal Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kilkattalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures transparency and helps in maintaining a fair valuation of properties within the area.

Frequently asked questions

What is the current guideline value of Kumaran Nagar Saroja Ammal Street?

The current guideline value of Kumaran Nagar Saroja Ammal Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification for Kumaran Nagar Saroja Ammal Street?

Kumaran Nagar Saroja Ammal Street falls under the Residential Class I Type - II land classification.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kumaran Nagar Saroja Ammal Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 at a rate of 7%.