Guideline Value for Kumaran Nagar 5th Cross Street

Kumaran Nagar 5th Cross Street guideline value

The current guideline value for Kumaran Nagar 5th Cross Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, classified as Residential Special Type - II.

How the guideline value of Kumaran Nagar 5th Cross Street has changed

Over the years, the guideline value for Kumaran Nagar 5th Cross Street has seen several revisions. 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 decrease to Rs 2,010 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,301 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The increase from 2012 to 2017 was a decrease of 33%, while the jump from 2007 to 2012 saw an increase of 200%. Overall, from 2007 to 2024, the guideline value has increased by 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 value is Rs 3,301 per sq.ft, which is equal to the current guideline value for Kumaran Nagar 5th Cross Street. Below are other streets in Peravallur:

• Kumaran Nagar 4th Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 5th Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 4th Main Road: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 6th Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Kumaran Nagar 3rd Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar 5th 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 to Rs 2,97,090. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Kumaran Nagar 5th Cross Street?

The Kumaran Nagar 5th Cross Street falls under the jurisdiction of 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 in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value is used to calculate the taxes owed, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value for Kumaran Nagar 5th Cross Street?

The current guideline value for Kumaran Nagar 5th 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 significantly 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 stamp duty rate for properties in Kumaran Nagar 5th Cross Street?

The stamp duty rate for properties in Kumaran Nagar 5th Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

What is the median guideline value for streets in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft, which is the same as the current guideline value for Kumaran Nagar 5th Cross Street.