Guideline Value for KUMARASAMY COLONY

Kumarasamy Colony guideline value

The current guideline value of Kumarasamy Colony, located in Korattur village under the Villivakkam SRO, is Rs 2,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Kumarasamy Colony has changed

The guideline value for Kumarasamy Colony has seen several revisions over the years. In 2002, the guideline value was Rs 133 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a change of +351%. The value remained unchanged at Rs 2,000 per sq.ft in both 2012 and 2023, before rising to Rs 2,100 per sq.ft in the 2024 revision, reflecting a +5% increase.

Notably, the 2007 to 2012 revision showcased a remarkable increase of +233%. Overall, from 2002 to 2024, there has been a substantial increase of +1479%. The register has no figures for the years 2003 and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Kumarasamy Colony's 2024 figure below that median.

• Kumaran Nagar Extn: Rs 2,700 per sq.ft (2024)
• Kuppu Reddy Nagar 'devadoss Street': Rs 3,300 per sq.ft (2024)
• Kuppu Reddy Nagar 'govinda Reddy Street': Rs 3,300 per sq.ft (2024)
• Kuppu Reddy Nagar 'govindasamy Street': Rs 3,300 per sq.ft (2024)
• Kuppu Reddy Nagar 'janakiraman Street': Rs 3,300 per sq.ft (2024)
• Kuppu Reddy Nagar 'nagammal Street': Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total to Rs 1,89,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kumarasamy Colony?

The Kumarasamy Colony is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an essential factor when registering a property in Korattur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is documented accurately and legally.

When buying or selling property, the guideline value serves as a reference point for both the buyer and seller. It helps in establishing a fair price for the property, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Kumarasamy Colony?

The current guideline value of Kumarasamy Colony is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 133 per sq.ft in 2002 to Rs 2,100 per sq.ft in 2024, marking an overall increase of +1479% over these years.

What are the stamp duty and registration fees for properties in Kumarasamy Colony?

For a property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000, and the registration fee would be Rs 42,000, totaling Rs 1,89,000.

Which office handles property registrations in Kumarasamy Colony?

The Villivakkam Sub Registrar Office handles property registrations for Kumarasamy Colony, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Kumarasamy Colony?

Kumarasamy Colony falls under the Residential Class III Type - I land classification, indicating its designated use for residential purposes.