Guideline Value for Kumaran Nagar 4th Cross Street

Kumaran Nagar 4th Cross Street guideline value

The current guideline value of Kumaran Nagar 4th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of Kumaran Nagar 4th Cross Street has changed

Over the years, the guideline value of Kumaran Nagar 4th Cross Street has undergone several revisions. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, the value dropped to Rs 2,010 per sq.ft in 2017, representing a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

The overall change from 2007 to 2024 shows an increase of 230%. 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 that carry 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, indicating that Kumaran Nagar 4th Cross Street's 2024 value is slightly below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Nagar 4th Cross Street?

The Sub Registrar Office that covers Kumaran Nagar 4th 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 crucial factor when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum price at which a property can be registered. The registration process requires the payment of stamp duty and registration fees based on this guideline value.

Frequently asked questions

What is the current guideline value of Kumaran Nagar 4th Cross Street?

The current guideline value of Kumaran Nagar 4th Cross Street is Rs 3,300 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 3,300 per sq.ft in 2024, showing an overall increase of 230% over the years.

What is the land classification for Kumaran Nagar 4th Cross Street?

The land classification for Kumaran Nagar 4th Cross Street is Commercial 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 this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.