Guideline Value for KUMARAN SRI CITY

Kumaran Sri City guideline value

The current guideline value of Kumaran Sri City is Rs 120 per sq.ft, effective from 1 July 2024. This property is located in Mampallam village, under the Arani_Tiruvallur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kumaran Sri City has changed

Looking at the revisions, the guideline value for Kumaran Sri City was Rs 80 per sq.ft in 2017. It saw an increase of 50% to Rs 120 per sq.ft in 2023, which remained unchanged in the 2024 revision. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2024, the overall change in the guideline value is also +50%. The 2023 to 2024 revision saw no change, maintaining the value at Rs 120 per sq.ft.

Guideline values in Mampallam

In Mampallam, there are three streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value of Rs 120 per sq.ft. The median for these streets is also Rs 120 per sq.ft, placing Kumaran Sri City at this median value.

• Krishna City: Rs 120 per sq.ft (2024)
• Royal City: Rs 120 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Sri City

For a 1,000 sq.ft plot at the current rate of Rs 120 per sq.ft, the guideline value amounts to Rs 1,20,000. The stamp duty at 7% would be Rs 8,400, and the registration fee at 2% would be Rs 2,400, totaling Rs 10,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaran Sri City?

The Sub Registrar Office that covers Kumaran Sri City is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Mampallam, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are mandatory for any property transaction.

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 at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value for Kumaran Sri City?

The current guideline value for Kumaran Sri City is Rs 120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 80 per sq.ft in 2017 to Rs 120 per sq.ft in 2023, remaining unchanged in 2024. The overall change from 2017 to 2024 is +50%.

What are the other streets in Mampallam with the same guideline value?

Other streets in Mampallam with the same guideline value of Rs 120 per sq.ft include Krishna City and Royal City.

What are the stamp duty and registration fees for property in Kumaran Sri City?

For a property valued at Rs 1,20,000, the stamp duty would be Rs 8,400, and the registration fee would be Rs 2,400, totaling Rs 10,800. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kumaran Sri City?

The Sub Registrar Office for Kumaran Sri City is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.