Guideline Value for Kumaran Nagar 1st Cross Street

Kumaran Nagar 1st Cross Street guideline value

The current guideline value of Kumaran Nagar 1st Cross Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Kumaran Nagar 1st Cross Street has changed

The guideline value for Kumaran Nagar 1st Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The value saw a substantial rise to Rs 3,000 per sq.ft in 2023, and further increased by 10% to the current value of Rs 3,301 per sq.ft in 2024. The register has no figures for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The increase from 2012 to 2017 was a decrease of 33%. The jump from 2007 to 2012 was a notable increase of 200%. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,301 per sq.ft, making Kumaran Nagar 1st Cross Street's value equal to this median.

• Kumaran Nagar 1st Main Road: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 1st Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 2nd Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 2nd Main Road: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 2nd Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 3rd Cross Street: Rs 3,301 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, making the total cost Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaran Nagar 1st Cross Street?

Kumaran Nagar 1st Cross Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling properties in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Kumaran Nagar 1st Cross Street is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, marking an overall increase of 230%.

What is the land classification for Kumaran Nagar 1st Cross Street?

Kumaran Nagar 1st Cross Street falls under the Residential Special Type - II land classification.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

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

Stamp duty for properties in Kumaran Nagar 1st Cross Street is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,070.