Guideline Value for Kumaran Nagar 7th Cross Street

Kumaran Nagar 7th Cross Street guideline value

The current guideline value of Kumaran Nagar 7th Cross Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - II.

How the guideline value of Kumaran Nagar 7th Cross Street has changed

The guideline value for Kumaran Nagar 7th Cross Street has seen 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. However, it decreased to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,301 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 230%. Notably, there are no figures available for the years 2002 and 2003 in the register 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 the median value being Rs 3,301 per sq.ft. The guideline value of Kumaran Nagar 7th Cross Street aligns with this median.

• Kumaran Nagar 6th Street: Rs 3,300 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 6th Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 5th Street: Rs 3,301 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 7th 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, resulting in a total of 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Nagar 7th Cross Street?

The Sub Registrar Office that covers Kumaran Nagar 7th 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 stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must ensure that the sale price is aligned with the guideline value to avoid discrepancies during registration.

When registering a property, the guideline value helps in assessing the official value of the property, which in turn influences the overall cost of the transaction. It is essential for both parties to be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Kumaran Nagar 7th Cross Street?

The current guideline value of Kumaran Nagar 7th 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 is the land classification for Kumaran Nagar 7th Cross Street?

The land classification for Kumaran Nagar 7th Cross Street is Residential Special Type - II.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070 at a rate of 7%.