Guideline Value for Kumaran Nagar 1st Street

Kumaran Nagar 1st Street guideline value

The current guideline value of Kumaran Nagar 1st 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 is classified as Residential Special Type - II.

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

Over the years, the guideline value of Kumaran Nagar 1st Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, this value decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 3,000 per sq.ft in the 2023 revision, and the latest revision in 2024 has set the value at Rs 3,301 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 230% in the guideline value.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the current guideline value of Kumaran Nagar 1st Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kumaran Nagar 1st Street?

The Sub Registrar Office that covers Kumaran Nagar 1st Street is 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 property in Peravallur. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

During registration, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the property transfer.

Frequently asked questions

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

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

How has the guideline value changed over the years?

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

What is the land classification of Kumaran Nagar 1st Street?

Kumaran Nagar 1st Street is classified as Residential Special Type - II.

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 Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,31,070.