Guideline Value for Kumaran Colony 9th Street

Kumaran Colony 9th Street guideline value

The current guideline value of Kumaran Colony 9th Street is Rs 6,050 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Mixed Special Type - III.

How the guideline value of Kumaran Colony 9th Street has changed

The guideline value for Kumaran Colony 9th Street has seen several revisions over the years. In 2002, the value was Rs 1,050 per sq.ft, which increased to Rs 1,147 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,800 per sq.ft in 2007, and then to Rs 5,500 per sq.ft in 2012. However, it dropped to Rs 3,685 per sq.ft in 2017, before increasing again to Rs 5,500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 6,050 per sq.ft.

The changes between these revisions illustrate notable fluctuations. From 2002 to 2003, the increase was +9%. The jump from 2003 to 2007 was +57%, followed by a dramatic increase of +206% from 2007 to 2012. The value then decreased by -33% from 2012 to 2017, but saw a substantial increase of +49% from 2017 to 2023. Finally, the value rose by +10% from 2023 to 2024, resulting in an overall increase of +476% from 2002 to 2024.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Kumaran Colony 9th Street is above this median.

• Kumaran Colony 8th Street: Rs 6,050 per sq.ft (2024)
• Kumaran Colony Main Road: Rs 6,600 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 9th 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, while the registration fee at 2% would be Rs 1,21,000. Together, these fees amount to Rs 5,44,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kumaran Colony 9th Street?

The Kumaran Colony 9th Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must ensure that they are aware of the current guideline value to avoid any discrepancies in the registration process.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. This means that the guideline value can directly impact the overall cost of the transaction, making it essential for both buyers and sellers to stay informed about any changes in the guideline value.

Frequently asked questions

What is the current guideline value of Kumaran Colony 9th Street?

The current guideline value of Kumaran Colony 9th 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 1,050 per sq.ft in 2002 to Rs 6,050 per sq.ft in 2024, reflecting an overall increase of +476% over this period.

What is the land classification for Kumaran Colony 9th Street?

The land classification for Kumaran Colony 9th Street is Mixed Special Type - III.

What are the stamp duty and registration fees for a property in Kumaran Colony 9th Street?

For a property with a guideline value of 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, totaling Rs 5,44,500.

Which Sub Registrar Office covers Kumaran Colony 9th Street?

The Virugambakkam Sub Registrar Office covers Kumaran Colony 9th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.