Guideline Value for Kumaran Nagar 6th Street

Kumaran Nagar 6th Street guideline value

The current guideline value of Kumaran Nagar 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Commercial Special Type - II.

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

The guideline value for Kumaran Nagar 6th Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent 2024 revision brought it up to Rs 3,300 per sq.ft, a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. It is important to note that there are no figures available for the revisions in 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, with a median value of Rs 3,301 per sq.ft. The guideline value of Kumaran Nagar 6th Street is slightly below this median.

• Kumaran Nagar 7th Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 6th Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 5th Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 7th Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 80 feet Road: Rs 4,200 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 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be 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.

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

Which Sub Registrar Office covers Kumaran Nagar 6th Street?

Kumaran Nagar 6th Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Peravallur

The guideline value plays a crucial role during the registration of property transactions in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

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. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Kumaran Nagar 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much 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 3,300 per sq.ft in 2024, representing an overall increase of 230%.

What is the land classification of Kumaran Nagar 6th Street?

Kumaran Nagar 6th Street is classified as Commercial Special Type - II under the land classification guidelines.

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 Kumaran Nagar 6th Street.

How is stamp duty calculated for properties in Kumaran Nagar 6th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. 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%.