Guideline Value for Kumaran Colony 6th Street

Kumaran Colony 6th Street guideline value

The current guideline value of Kumaran Colony 6th Street is Rs 6,050 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the jurisdiction of the Virugambakkam SRO, and is classified as Mixed Special Type - III.

How the guideline value of Kumaran Colony 6th Street has changed

Over the years, the guideline value for Kumaran Colony 6th Street has seen significant changes. The earliest recorded figure is from 2002, with a guideline value of Rs 1,039 per sq.ft. This value increased to Rs 1,135 per sq.ft in 2003, marking a rise of 9%. Following this, the guideline value saw a substantial increase of 59% to reach Rs 1,800 per sq.ft in 2007. The next revision in 2012 brought the value to Rs 5,500 per sq.ft, which was a remarkable increase of 206%. However, this figure dropped by 33% to Rs 3,685 per sq.ft in 2017. The 2023 revision set the value at Rs 5,500 per sq.ft, and the latest revision in 2024 has increased it by 10% to Rs 6,050 per sq.ft.

Overall, from 2002 to 2024, the guideline value has increased by 482%. There are no recorded figures for any other years for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in the village is Rs 4,400 per sq.ft, placing Kumaran Colony 6th Street's 2024 figure above this median.

• Kumaran Colony 5th Street: Rs 6,050 per sq.ft (2024)
• Kumaran Colony 4th Street: Rs 6,050 per sq.ft (2024)
• Kumaran Colony 7th Street: Rs 8,050 per sq.ft (2024)
• Kumaran Colony 3rd Street: Rs 6,050 per sq.ft (2024)
• Kumaran Colony 8th Street: Rs 6,050 per sq.ft (2024)
• Kumaran Colony 9th Street: Rs 6,050 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Colony 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,050 per sq.ft, the total guideline value amounts to Rs 60,50,000. The stamp duty at 7% would be Rs 4,23,500, and the registration fee at 2% would be Rs 1,21,000, bringing the total cost for these fees to Rs 5,44,500. 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 more detailed calculations.

Which Sub Registrar Office covers Kumaran Colony 6th Street?

The Sub Registrar Office that covers Kumaran Colony 6th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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 stamp duty and registration fees applicable during the transaction. When registering a property, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved.

It is essential for buyers and sellers to be informed about the current guideline value, as it can significantly impact the total cost of the transaction. Understanding these values helps in making informed decisions during property dealings in the area.

Frequently asked questions

What is the current guideline value of Kumaran Colony 6th Street?

The current guideline value of Kumaran Colony 6th Street is Rs 6,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,039 per sq.ft in 2002 to Rs 6,050 per sq.ft in 2024, reflecting an overall increase of 482%.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 60,50,000, leading to a stamp duty of Rs 4,23,500 and a registration fee of Rs 1,21,000, totaling Rs 5,44,500.

Which office handles property registrations for Kumaran Colony 6th Street?

The Virugambakkam Sub Registrar Office handles property registrations for Kumaran Colony 6th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Kumaran Colony 6th Street?

Kumaran Colony 6th Street is classified as Mixed Special Type - III, indicating its designated land use within the area.