Guideline Value for KUMARASAMY 1ST MAIN STREET

Kumarasamy 1st Main Street guideline value

The current guideline value of Kumarasamy 1st Main Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class I Type - II.

How the guideline value of Kumarasamy 1st Main Street has changed

The guideline value for Kumarasamy 1st Main Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, a significant increase from Rs 2,345 per sq.ft in the 2017 revision, marking a change of +66%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002.

Prior to the 2017 revision, the guideline value was not recorded for the years mentioned. The increase from 2017 to 2024 is notable, reflecting a substantial change in the valuation of properties on this street.

Guideline values in Sholinganallur - 1

In the Sholinganallur - 1 village, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Kumarasamy 1st Main Street's 2024 figure is above this median.

• Kumarasamy 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 2nd Main Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 3rd Main Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 4th Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy 1st Main Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. Please note that 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 details.

Which Sub Registrar Office covers Kumarasamy 1st Main Street?

The Sub Registrar Office that covers Kumarasamy 1st Main Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor when registering property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Kumarasamy 1st Main Street?

The current guideline value of Kumarasamy 1st Main Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 2,345 per sq.ft in 2017 to Rs 3,900 per sq.ft in 2024, reflecting a change of +66%.

What is the land classification of Kumarasamy 1st Main Street?

Kumarasamy 1st Main Street is classified as Residential Class I Type - II.

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

The Sub Registrar Office for Kumarasamy 1st Main Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property with a guideline value of Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%.