Guideline Value for Kumaran Avenue 1st Street

Kumaran Avenue 1st Street guideline value

The current guideline value of Kumaran Avenue 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kumaran Avenue 1st Street has changed

The guideline value for Kumaran Avenue 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft. However, in the 2017 revision, this value decreased by 33% to Rs 1,675 per sq.ft. The most recent revision in 2024 saw a significant increase of 64%, bringing the current guideline value to Rs 2,750 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which means that Kumaran Avenue 1st Street's 2024 figure is below the median.

• Kumaran Avenue 2nd Street: Rs 2,750 per sq.ft (2024)
• Kumaran Avenue: Rs 2,750 per sq.ft (2024)
• Kumaran Colony: Rs 2,750 per sq.ft (2024)
• Kuberan Street: Rs 3,300 per sq.ft (2024)
• Kumaran Street: Rs 2,750 per sq.ft (2024)
• Krishna Street: Rs 5,550 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Avenue 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, resulting in a total of Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumaran Avenue 1st Street?

The Kumaran Avenue 1st Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Kumaran Avenue 1st Street?

The current guideline value of Kumaran Avenue 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,750 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification for Kumaran Avenue 1st Street?

Kumaran Avenue 1st Street is classified as Residential Class IV Type - I under the Virugambakkam SRO.

What is the registration office for Kumaran Avenue 1st Street?

The registration office for Kumaran Avenue 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Kumaran Avenue 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.