Guideline Value for Kumaran Nagar 3rd Street

Kumaran Nagar 3rd Street guideline value

The current guideline value of Kumaran Nagar 3rd 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 3rd Street has changed

The guideline value for Kumaran Nagar 3rd Street has seen 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, there was a decline to Rs 2,010 per sq.ft in 2017. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,301 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, followed by a 10% rise from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 230%, reflecting the fluctuations in the guideline value over the years.

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 the same as the guideline value for Kumaran Nagar 3rd Street.

• 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 3rd Main Road: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 4th Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 3rd Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 5th Cross Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar 3rd 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, while the registration fee at 2% would be Rs 66,020. Together, the total cost for stamp duty and registration fee would be Rs 2,97,090. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaran Nagar 3rd Street?

Kumaran Nagar 3rd Street falls under 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 in property transactions in Peravallur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration norms and to calculate applicable duties.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kumaran Nagar 3rd Street?

The current guideline value of Kumaran Nagar 3rd 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 other streets in Peravallur with similar guideline values?

Other streets in Peravallur with similar guideline values include Kumaran Nagar 4th Cross Street at Rs 3,300 per sq.ft and several others at Rs 3,301 per sq.ft.

Where is the Sembiam Sub Registrar Office located?

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 3rd Street?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 33,01,000 would incur a stamp duty of Rs 2,31,070.