Guideline Value for KUMARASAMY CHETTY STREET

Kumarasamy Chetty Street guideline value

The current guideline value of Kumarasamy Chetty Street is Rs 3,300 per sq.ft. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kumarasamy Chetty Street has changed

The guideline value for Kumarasamy Chetty Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and finally, it rose to Rs 3,300 per sq.ft in the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Kumarasamy Chetty Street's 2024 figure above this median.

• Kumaraswamy Street: Rs 3,300 per sq.ft (2024)
• Kumaran Street: Rs 2,700 per sq.ft (2024)
• Kumaran Lane (STREET): Rs 2,700 per sq.ft (2024)
• Kulathu Medu: Rs 2,200 per sq.ft (2024)
• King Street: Rs 2,200 per sq.ft (2024)
• Kayalar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumarasamy Chetty Street?

The Sub Registrar Office that covers Kumarasamy Chetty Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is in line with the government's valuation.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. These costs are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumarasamy Chetty Street?

The current guideline value of Kumarasamy Chetty Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Kumarasamy Chetty Street?

The land classification for Kumarasamy Chetty Street is Residential Class I Type - II, indicating its suitability for residential development.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office covering Kumarasamy Chetty Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties on Kumarasamy Chetty Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.