Guideline Value for Kumaran Nagar 2nd Cross Street

Kumaran Nagar 2nd Cross Street guideline value

The current guideline value of Kumaran Nagar 2nd Cross Street is Rs 3,301 per sq.ft. 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 2nd Cross Street has changed

The guideline value for Kumaran Nagar 2nd Cross Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value decreased to Rs 2,010 per sq.ft in 2017. The following revision in 2023 saw the value rise to Rs 3,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,301 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO, with guideline values 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, which is equal to the current value of Kumaran Nagar 2nd Cross Street.

• Kumaran Nagar 1st Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 2nd Main Road: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 1st Main Road: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 2nd Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 1st Cross 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 2nd 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, bringing the total cost to 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 also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Kumaran Nagar 2nd Cross Street?

The Sub Registrar Office covering Kumaran Nagar 2nd Cross 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 is a critical factor during the registration of property transactions in Peravallur. It serves as a baseline for determining the stamp duty and registration fees payable at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value as per the government’s standards. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kumaran Nagar 2nd Cross Street?

The current guideline value of Kumaran Nagar 2nd Cross 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 changed from Rs 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,01,000, the total fees would amount to Rs 2,97,090.

Which office handles property registrations in Kumaran Nagar 2nd Cross Street?

The Sembiam Sub Registrar Office handles property registrations for Kumaran Nagar 2nd Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Kumaran Nagar 2nd Cross Street?

Kumaran Nagar 2nd Cross Street is classified as Residential Special Type - II, which is relevant for understanding its usage and potential development.