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 Peramanoor village under the Chengleput Joint II SRO, and it is classified as Residential Special Type - V.

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

The guideline value for Kumaranar Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024. The changes between these revisions are notable: from 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for Kumaranar Street in the years 2002, 2003, and 2007.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Kumaranar Street's 2024 guideline value above this median.

• Kumaragurubarar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Kulakkarai Street (Ward -17): Rs 660 per sq.ft (2024)
• Kulakkarai Street Old (Ward -18): Rs 660 per sq.ft (2024)
• Kulakkarai Street Old (Ward -15): Rs 550 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 rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Peramanoor, the guideline value serves as a benchmark for determining the registration fees and stamp duty. It is essential for both buyers and sellers to be aware of this value to ensure accurate financial planning during the transaction.

The guideline value is used by the registration authorities to assess the value of the property being registered. This ensures that the correct fees are applied based on the established rates, which helps in maintaining transparency in property transactions.

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 is the land classification of Kumaranar Street (Ward -5)?

Kumaranar Street (Ward -5) is classified as Residential Special Type - V.

What are the stamp duty and registration fees for properties in Kumaranar Street (Ward -5)?

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

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