Guideline Value for KUMARASAMY 3RD MAIN STREET

Kumarasamy 3rd Main Street guideline value

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

How the guideline value of Kumarasamy 3rd Main Street has changed

The guideline value for Kumarasamy 3rd Main Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, an increase from Rs 3,500 per sq.ft in the 2023 revision. This change represents an increase of 11% from the previous year. Looking back further, the 2017 revision recorded a guideline value of Rs 2,345 per sq.ft, marking a significant increase of 49% to the 2023 figure. Overall, from 2017 to 2024, the guideline value has increased by 66%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The most recent figures reflect a clear upward trend in the guideline value, indicating a notable change in the valuation of properties along this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 2,200 per sq.ft, placing Kumarasamy 3rd Main Street's 2024 figure above this median.

• Kumarasamy 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 2nd Main Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 5th Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 1st Main Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy 3rd Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumarasamy 3rd Main Street?

The Kumarasamy 3rd Main Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It helps determine the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

When registering a property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kumarasamy 3rd Main Street?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,900 per sq.ft in 2024, representing an overall increase of 66% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the total stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations in this area?

The Neelankarai Sub Registrar Office handles property registrations for Kumarasamy 3rd Main Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value when buying property?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the appropriate fees are paid based on the value of the property being registered.