Guideline Value for Kumaran Nagar 3rd Main Road

Kumaran Nagar 3rd Main Road guideline value

The current guideline value for Kumaran Nagar 3rd Main Road 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 3rd Main Road has changed

The guideline value for Kumaran Nagar 3rd Main Road 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, marking a 200% rise. However, it dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The value saw a substantial increase to Rs 3,000 per sq.ft in 2023, and then it rose again to Rs 3,301 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The revisions show a fluctuating trend, with the most recent revision aligning with the median value of Rs 3,301 per sq.ft for the 423 streets in Peravallur under the Sembiam SRO.

Guideline values in Peravallur

In Peravallur, the guideline values for 2024 range from Rs 2,200 to Rs 7,100 per sq.ft, with a median of Rs 3,301 per sq.ft. The guideline value for Kumaran Nagar 3rd Main Road matches this median. Below are the guideline values for other streets in Peravallur:

• Kumaran Nagar 3rd Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 3rd Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Kumaran Nagar 4th Main Road: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 2nd Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 4th Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar 3rd Main Road

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, while the registration fee at 2% would be Rs 66,020. Together, the total cost would be 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 further calculations.

Which Sub Registrar Office covers Kumaran Nagar 3rd Main Road?

The Sub Registrar Office covering Kumaran Nagar 3rd Main Road 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 an essential factor in the registration process of property transactions in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is registered, the guideline value is used to calculate the duty, which is charged on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Kumaran Nagar 3rd Main Road?

The current guideline value for Kumaran Nagar 3rd Main Road 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 properties in this area?

For a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070 and the registration fee would be Rs 66,020, totaling Rs 2,97,090.

Which Sub Registrar Office handles registrations for Kumaran Nagar 3rd Main Road?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Kumaran Nagar 3rd Main Road.

What is the land classification of Kumaran Nagar 3rd Main Road?

Kumaran Nagar 3rd Main Road is classified as Residential Special Type - II, indicating its intended use for residential purposes.