Guideline Value for KUMARANAR STREET (WARD -5)

Kumaranar Street (Ward -5) guideline value

The current guideline value of Kumaranar Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Kumaranar Street (Ward -5) has changed

Over the years, the guideline value of Kumaranar Street has undergone several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it to Rs 1,320 per sq.ft. The register has no figure for the years 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, the value increased by 49%. The jump from 2023 to 2024 was a further 10%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 990 per sq.ft, placing Kumaranar Street's 2024 figure above that median.

• Kumaragurubarar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Kulakkarai Street (Ward -17): Rs 550 per sq.ft (2024)
• Kulakkarai Street Old (Ward -18): Rs 550 per sq.ft (2024)
• Kulakkarai Street Old (Ward -15): Rs 440 per sq.ft (2024)
• Kundalakesi Street (N): Rs 1,320 per sq.ft (2024)
• Kuravanji Street (Ward -8): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaranar Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaranar Street (Ward -5)?

The Sub Registrar Office that covers Kumaranar Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a buyer or seller engages in a property transaction, the guideline value ensures that the property is assessed fairly for registration purposes. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kumaranar Street (Ward -5)?

The current guideline value of Kumaranar Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Kumaranar Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles the registration for Kumaranar Street?

The Chengleput Joint II Sub Registrar Office handles the registration for Kumaranar Street (Ward -5), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Kumaranar Street?

Kumaranar Street is classified as Residential Special Type - V, indicating its suitability for residential purposes.