Guideline Value for KUMARAN STREET

Kumaran Street guideline value

The current guideline value of Kumaran Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Kumaran Street has changed

Over the years, the guideline value of Kumaran Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,340 per sq.ft. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, reflecting a significant increase of 49% from the 2017 figure. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from 2023.

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

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Kumaran Street.

• Kumaran Street Veera Anjaneyar Nagar: Rs 1,870 per sq.ft (2024)
• Kumaraguruparar Street: Rs 2,200 per sq.ft (2024)
• Krishna Street: Rs 2,750 per sq.ft (2024)
• Krishnan Street: Rs 2,750 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Lakshmi Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Street?

Kumaran Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Jelandianpettai. When a property is bought or sold, the guideline value is considered for calculating the stamp duty and registration fees, ensuring that the transaction is in compliance with government regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for determining the financial obligations associated with property transactions.

Frequently asked questions

What is the current guideline value of Kumaran Street?

The current guideline value of Kumaran Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. It was Rs 1,340 per sq.ft in 2017, which increased to Rs 2,000 per sq.ft in 2023, marking a 49% increase.

What is the land classification for Kumaran Street?

Kumaran Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where is the Sub Registrar Office for Kumaran Street located?

The Chennai South Joint I Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated on properties in Kumaran Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.