Guideline Value for Kumanan Street

Kumanan Street guideline value

The current guideline value of Kumanan Street in Thiruvallur village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Kumanan Street has changed

The guideline value for Kumanan Street has seen several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 1,000 per sq.ft, and the latest revision in 2024 has increased it further to Rs 1,100 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for Kumanan Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Thiruvallur

In Thiruvallur village, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is equal to the current value of Kumanan Street.

• Kumaran Cross Street: Rs 1,100 per sq.ft (2024)
• Kumeravel Nagar: Rs 2,200 per sq.ft (2024)
• Krishna Nagar: Rs 1,100 per sq.ft (2024)
• Kuttaikkarai Street: Rs 2,200 per sq.ft (2024)
• Kosa St: Rs 880 per sq.ft (2024)
• Kondammapuram Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kumanan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kumanan Street?

Kumanan Street is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. For more details, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Thiruvallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When you buy or sell property, the guideline value will influence the stamp duty and registration fees applicable. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that all transactions are fairly assessed.

Frequently asked questions

What is the current guideline value of Kumanan Street?

The current guideline value of Kumanan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 450%.

What are the stamp duty and registration fees for property in Kumanan Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration for Kumanan Street?

The registration for Kumanan Street is handled by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and historical revisions. It serves as a reference point for property transactions in the area.