Guideline Value for Kumarai Chetty Street

Kumarai Chetty Street guideline value

The current guideline value of Kumarai Chetty Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in the 2nd Division village under the Kanchipuram Joint IV SRO, classified as Residential Class I Type - III.

How the guideline value of Kumarai Chetty Street has changed

In the 2012 revision, the guideline value for Kumarai Chetty Street was Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. The 2023 revision saw a significant increase to Rs 1,500 per sq.ft, followed by another increase in the 2024 revision to the current value of Rs 1,650 per sq.ft, reflecting a 10% rise from the previous year. The register has no figures for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

Guideline values in 2nd Division

In the 2nd Division, there are 101 streets under the Kanchipuram Joint IV SRO with a 2024 guideline value ranging from Rs 800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Kumarai Chetty Street.

• Kumarasamy Avenue: Rs 3,300 per sq.ft (2024)
• Kumar Street: Rs 1,650 per sq.ft (2024)
• Kottai Kollai Subrayar Street: Rs 1,650 per sq.ft (2024)
• Kotrampalayam Street: Rs 1,650 per sq.ft (2024)
• Lalakuttai Street: Rs 1,100 per sq.ft (2024)
• Maduranthottam Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarai Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total charges to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kumarai Chetty Street?

The Kanchipuram Joint IV Sub Registrar Office covers Kumarai Chetty Street. The office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value is a critical factor when registering property transactions in the 2nd Division. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kumarai Chetty Street?

The current guideline value of Kumarai Chetty Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the stamp duty for property in Kumarai Chetty Street?

The stamp duty for property in Kumarai Chetty Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kumarai Chetty Street?

The Sub Registrar Office for Kumarai Chetty Street is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

What are the other streets in 2nd Division with similar guideline values?

Other streets in 2nd Division with similar guideline values include Kumar Street, Kottai Kollai Subrayar Street, and Kotrampalayam Street, all valued at Rs 1,650 per sq.ft in 2024.