Guideline Value for Kumaran Nagar 5th Street

Kumaran Nagar 5th Street guideline value

The current guideline value of Kumaran Nagar 5th 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 5th Street has changed

The guideline value for Kumaran Nagar 5th Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the most recent 2024 revision increased it further to Rs 3,301 per sq.ft, reflecting a rise of 10% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%.

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 5th Street.

• Kumaran Nagar 6th Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 5th Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Kumaran Nagar 4th Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 7th Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 4th Main Road: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be 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 the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Nagar 5th Street?

The Sub Registrar Office that covers Kumaran Nagar 5th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for additional assistance.

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, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

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

The current guideline value of Kumaran Nagar 5th 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, showing an overall increase of 230% over the years.

What is the land classification for Kumaran Nagar 5th Street?

Kumaran Nagar 5th Street is classified as Residential Special Type - II, which indicates the type of development allowed in this area.

What are the stamp duty and registration fees for a property in Kumaran Nagar 5th Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total fees amount to Rs 2,97,090.

Which office handles the registration for Kumaran Nagar 5th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles the registration for Kumaran Nagar 5th Street.