Guideline Value for Kumaran Nagar 6th Cross Street

Kumaran Nagar 6th Cross Street guideline value

The current guideline value of Kumaran Nagar 6th 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, and it falls under the Residential Special Type - II land classification.

How the guideline value of Kumaran Nagar 6th Cross Street has changed

The guideline value for Kumaran Nagar 6th Cross Street 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, reflecting a 200% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. The value saw a substantial increase to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,301 per sq.ft, an increase of 10% from the previous year.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%, showcasing significant changes 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 guideline value for these streets is Rs 3,301 per sq.ft, which is equal to the current value of Kumaran Nagar 6th Cross Street.

• Kumaran Nagar 5th Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Kumaran Nagar 7th Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 5th Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 7th 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 6th 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 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. Together, the total cost for stamp duty and registration fee 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 more details.

Which Sub Registrar Office covers Kumaran Nagar 6th Cross Street?

The Sub Registrar Office that covers Kumaran Nagar 6th 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 in property transactions in Peravallur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. It serves as a benchmark for assessing the value of the property being registered.

During the registration process, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kumaran Nagar 6th Cross Street?

The current guideline value of Kumaran Nagar 6th 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 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 property in Kumaran Nagar 6th Cross Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for stamp duty and registration fee would be Rs 2,97,090.

Which office handles property registrations for Kumaran Nagar 6th Cross Street?

The Sembiam Sub Registrar Office handles property registrations for Kumaran Nagar 6th Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Kumaran Nagar 6th Cross Street?

Kumaran Nagar 6th Cross Street is classified as Residential Special Type - II.