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 Sattamangalam village, under the Chengleput Joint II SRO, and 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. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft from the 2024 revision. The changes between these revisions include a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

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

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 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 figure above this 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 total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees together 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.

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

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

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

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

The guideline value is a critical factor when buying or selling property in Sattamangalam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value can influence the overall transaction costs associated with property transfers.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, which helps in maintaining transparency in real estate dealings. It is advisable for buyers and sellers to stay informed about the current guideline values to avoid any discrepancies during the registration process.

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 to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is 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, 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.

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

Kumaranar Street (Ward -5) is classified as Residential Special Type - V, indicating its designated use for residential purposes.