Guideline Value for Kumar Street

Kumar Street guideline value

The current guideline value of Kumar Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kumar Street has changed

The guideline value of Kumar Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 1,000 per sq.ft, and then further rose to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for Kumar Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 1,650 per sq.ft. Kumar Street's 2024 figure is below this median.

• Kuppachary Street: Rs 3,850 per sq.ft (2024)
• Kumaran Street: Rs 1,650 per sq.ft (2024)
• Kuppusamy Nagar: Rs 1,100 per sq.ft (2024)
• Kuppusamy St: Rs 2,750 per sq.ft (2024)
• Kulothungan street: Rs 2,750 per sq.ft (2024)
• Kulakkarai street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kumar 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, and the registration fee at 2% would be Rs 22,000, making the total fees Rs 99,000. 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 details.

Which Sub Registrar Office covers Kumar Street?

The Sub Registrar Office that covers Kumar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chitlapakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the registration process.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Kumar Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Kumar Street?

Kumar Street is classified as Residential Class II Type - II, which is relevant for understanding its usage and zoning regulations.

Where can I find the registration office for Kumar Street?

The registration office for Kumar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Kumar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.