Guideline Value for Kumaran Nagar 7th Street

Kumaran Nagar 7th Street guideline value

The current guideline value of Kumaran Nagar 7th 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 7th Street has changed

The guideline value for Kumaran Nagar 7th Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, this value dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023 and increased again to Rs 3,301 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, 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 guideline value for these streets is Rs 3,301 per sq.ft, which is equal to the current guideline value for Kumaran Nagar 7th Street.

• Kumaran Nagar 80 feet Road: Rs 4,200 per sq.ft (2024)
• Kumaran Nagar 7th Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 6th Street: Rs 3,300 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 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 cost together to Rs 2,97,090. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kumaran Nagar 7th Street?

The Sub Registrar Office that covers Kumaran Nagar 7th 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 registering property transactions in Peravallur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that all transactions are recorded at a fair value as determined by the authorities.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations related to the transaction. Buyers and sellers should ensure that they are informed about the latest revisions to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Kumaran Nagar 7th 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 Street?

Kumaran Nagar 7th Street is classified as Residential Special Type - II under the Sembiam SRO.

Where can I find the Sub Registrar Office for Kumaran Nagar 7th Street?

The Sub Registrar Office for Kumaran Nagar 7th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for property transactions?

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