Guideline Value for KUMARAN STREET

Kumaran Street guideline value

The current guideline value for Kumaran Street in Vengathur village, under the Manavalanagar SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kumaran Street has changed

The guideline value for Kumaran Street has seen various revisions over the years. In 2007, the value was Rs 125 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it then dropped to Rs 469 per sq.ft in 2017. The latest revisions in 2023 and 2024 show no change, maintaining the value at Rs 700 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The substantial rise from 2007 to 2012 was 460%, but it subsequently decreased by 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 460%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, placing Kumaran Street's 2024 figure below that median.

• Kumaran Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Kuppuswamy Nagar: Rs 1,300 per sq.ft (2024)
• Kurungi Street: Rs 600 per sq.ft (2024)
• Kumanan Street: Rs 1,300 per sq.ft (2024)
• Kuruvayur Steet: Rs 600 per sq.ft (2024)
• Kutti Mani Street: Rs 600 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 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 details.

Which Sub Registrar Office covers Kumaran Street?

The Sub Registrar Office covering Kumaran Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government during the transaction.

When a property is registered, the guideline value helps ensure that the transaction is documented accurately, reflecting the value of the property as determined by the state. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kumaran Street?

The current guideline value of Kumaran Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 125 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then dropping to Rs 469 per sq.ft in 2017. It has remained at Rs 700 per sq.ft in both 2023 and 2024.

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 can I find the Sub Registrar Office for Kumaran Street?

The Sub Registrar Office for Kumaran Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.