Guideline Value for KUMARASAMI GARDEN PHASE - II

Kumarasami Garden Phase - II guideline value

The current guideline value of Kumarasami Garden Phase - II is Rs 896 per sq.ft, effective from 1 July 2024. This area is located in Orathur village under the Gooduvancheri SRO, with a land classification of Mixed Type - II.

How the guideline value of Kumarasami Garden Phase - II has changed

The guideline value for Kumarasami Garden Phase - II has seen several revisions over the years. The oldest available figure is from the 2017 revision, which set the value at Rs 600 per sq.ft. This value remained unchanged until the 2023 revision, which also recorded Rs 896 per sq.ft. The most recent 2024 revision has maintained this value at Rs 896 per sq.ft, indicating no change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%. The changes from the 2023 revision to the 2024 revision reflect a stable market, as there was a 0% change during this period.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 335 to Rs 1,700 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing Kumarasami Garden Phase - II above this median value.

• Kumarasaamy Garden: Rs 896 per sq.ft (2024)
• Kowshik Nagar: Rs 400 per sq.ft (2024)
• Karthik Nagar EXTN I,II: Rs 500 per sq.ft (2024)
• Karthik Nagar: Rs 500 per sq.ft (2024)
• Maniyammai Nagar: Rs 505 per sq.ft (2024)
• Maniyammai Nagar Phase-III: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasami Garden Phase - II

For a 1,000 sq.ft plot at the current rate of Rs 896 per sq.ft, the guideline value amounts to Rs 8,96,000. The stamp duty at 7% would be Rs 62,720, and the registration fee at 2% would be Rs 17,920, totaling Rs 80,640. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumarasami Garden Phase - II?

The Kumarasami Garden Phase - II area falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumarasami Garden Phase - II?

The current guideline value of Kumarasami Garden Phase - II is Rs 896 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 896 per sq.ft from 2023 to 2024. It increased from Rs 600 per sq.ft in 2017 to Rs 896 per sq.ft in both 2023 and 2024, marking a 49% increase overall since 2017.

What is the land classification for Kumarasami Garden Phase - II?

The land classification for Kumarasami Garden Phase - II is Mixed Type - II, which indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Kumarasami Garden Phase - II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty for properties in Kumarasami Garden Phase - II is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 896 per sq.ft, the total guideline value would be Rs 8,96,000, leading to a stamp duty of Rs 62,720 at 7%.