Guideline Value for Kumaran Kundram Main Road

Kumaran Kundram Main Road guideline value

The current guideline value of Kumaran Kundram Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road is located in Hastinapuram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kumaran Kundram Main Road has changed

Over the years, the guideline value of Kumaran Kundram Main Road has seen several revisions. The earliest recorded figure is from 2007, which was Rs 400 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, between 2012 and 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, and most recently, it has increased to Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year.

In summary, from 2007 to 2024, the overall increase in the guideline value is 313%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Kumaran Kundram Main Road's 2024 value below this median.

• Kuppu Naickenpettai: Rs 3,850 per sq.ft (2024)
• Krishna Nagar Manickam Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 3rd Main Road: Rs 3,850 per sq.ft (2024)
• Krishna Nagar 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Lake view Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Kundram Main Road

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. Therefore, the total cost for these fees would be Rs 1,48,500. Please 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 Kumaran Kundram Main Road?

The Sub Registrar Office that covers Kumaran Kundram Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Hastinapuram, as it determines the minimum value at which a property can be registered. This value is used by the registration authorities to calculate the applicable stamp duty and registration fees during the transaction.

When a buyer decides to purchase a property, the guideline value helps in ensuring that the sale price is not significantly lower than the market standards set by the government. This regulation helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kumaran Kundram Main Road?

The current guideline value of Kumaran Kundram Main Road 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 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the registration office for Kumaran Kundram Main Road?

The registration office for Kumaran Kundram Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty and registration fees for property in Kumaran Kundram Main Road?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

What is the land classification for Kumaran Kundram Main Road?

The land classification for Kumaran Kundram Main Road is Residential Class III Type - I, indicating its suitability for residential development.