Guideline Value for Kumaran St ( Ward No.28 )

Kumaran St ( Ward No.28 ) guideline value

The current guideline value of Kumaran St ( Ward No.28 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Kumaran St ( Ward No.28 ) has changed

The guideline value for Kumaran St ( Ward No.28 ) has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. The most recent revision in 2024 shows a significant increase to Rs 2,200 per sq.ft, marking a change of +47% from the 2012 figure. There are no recorded figures for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

From 2012 to 2024, the increase in guideline value indicates a notable rise in property valuation in this area. The current rate of Rs 2,200 per sq.ft is the only figure recorded for the year 2024, reflecting the latest valuation adjustments.

Guideline values in Madhavaram

In Madhavaram village, the guideline values for 1,946 streets under the Madhavaram SRO range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Kumaran St ( Ward No.28 ) at Rs 2,200 per sq.ft is above this median.

• Kumaran Street (Ward No.1): Rs 2,200 per sq.ft (2024)
• Kumaran Street (Sri Lakshmi Nagar): Rs 1,600 per sq.ft (2024)
• Kumarappa Puram (P&T) Colony: Rs 1,600 per sq.ft (2024)
• Kumaran Street / Nagar (Lakshmipuram): Rs 2,200 per sq.ft (2024)
• Kumaran street Main Rd. ( Ward No.1 ): Rs 2,200 per sq.ft (2024)
• Kumaran Street (Kuthira Kuthi Thazai) (Ward-01): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran St ( Ward No.28 )

For a property measuring 1,000 sq.ft at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran St ( Ward No.28 )?

The Sub Registrar Office that covers Kumaran St ( Ward No.28 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all property transactions are conducted transparently and fairly, according to the established rates set by the registration department.

Frequently asked questions

What is the current guideline value of Kumaran St ( Ward No.28 )?

The current guideline value of Kumaran St ( Ward No.28 ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2012?

Since 2012, the guideline value has increased from Rs 1,500 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting a change of +47%.

What are the guideline values for other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the same value.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registrations for properties in the area.