Guideline Value for Kumaran Colony Main Raod

Kumaran Colony Main Raod guideline value

The current guideline value of Kumaran Colony Main Raod is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Kumaran Colony Main Raod has changed

The guideline value for Kumaran Colony Main Raod has seen several revisions over the years. In 2002, the guideline value was Rs 1,155 per sq.ft. This increased to Rs 1,262 per sq.ft in 2003, marking a 9% rise. The value then saw a significant increase to Rs 1,800 per sq.ft in 2007, which was a 43% change. By 2012, the value had risen to Rs 5,500 per sq.ft, reflecting a 206% increase from the previous revision. However, the value then decreased to Rs 4,020 per sq.ft in 2017, a drop of 27%. In 2023, the guideline value increased to Rs 6,000 per sq.ft, a 49% rise, and finally reached Rs 6,600 per sq.ft in 2024, marking a 10% increase.

There are no figures available for the revisions in the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 471%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Kumaran Colony Main Raod's 2024 figure above this median.

• Kumaran Colony 9th Street: Rs 6,050 per sq.ft (2024)
• Kumaran Colony 8th Street: Rs 6,050 per sq.ft (2024)
• Kumaran Colony 7th Street: Rs 8,050 per sq.ft (2024)
• Kumaran Colony 6th Street: Rs 6,050 per sq.ft (2024)
• Kumaran Colony 5th Street: Rs 6,050 per sq.ft (2024)
• Kumaran Colony 4th Street: Rs 6,050 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Colony Main Raod

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kumaran Colony Main Raod?

The Sub Registrar Office that covers Kumaran Colony Main Raod is 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 Saligramam

The guideline value is a crucial factor when buying or selling property in Saligramam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kumaran Colony Main Raod?

The current guideline value of Kumaran Colony Main Raod is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,155 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 471% over the years.

What are the stamp duty and registration fees for property in Kumaran Colony Main Raod?

For a 1,000 sq.ft plot, the total guideline value is Rs 66,00,000. The stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers Kumaran Colony Main Raod?

The Virugambakkam Sub Registrar Office covers Kumaran Colony Main Raod, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Kumaran Colony Main Raod?

The land classification for Kumaran Colony Main Raod is Residential Special Type - II.