Guideline Value for KUMARAN STREET

Kumaran Street guideline value

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

How the guideline value of Kumaran Street has changed

The guideline value for Kumaran Street has seen several revisions over the years. In 2012, the value was set at Rs 2,200 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 1,474 per sq.ft, marking a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for Kumaran Street. Overall, from 2012 to 2024, the guideline value has remained the same, showing an overall change of +0% during this period.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, placing Kumaran Street's 2024 guideline value above this median.

• Kumarapuram: Rs 2,750 per sq.ft (2024)
• Kuppan Street: Rs 2,160 per sq.ft (2024)
• Kuppu Naicken Pettai: Rs 2,160 per sq.ft (2024)
• Kurathiamman Koil Cross Street: Rs 2,160 per sq.ft (2024)
• Kurathiamman Koil Street: Rs 2,160 per sq.ft (2024)
• Kurinji Nagar: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total fees to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Street?

Kumaran Street is covered by 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from 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 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and back to Rs 2,200 per sq.ft in 2024.

What is the land classification for Kumaran Street?

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

Where can I find the registration office for Kumaran Street?

The registration office for Kumaran Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Kumaran Street?

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