Guideline Value for Kumaran Street (1st Ward)

Kumaran Street (1st Ward) guideline value

The current guideline value of Kumaran Street (1st Ward) is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kumaran Street (1st Ward) has changed

The guideline value for Kumaran Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 400 per sq.ft. This figure increased significantly in the 2012 revision to Rs 1,300 per sq.ft, followed by a decrease to Rs 871 per sq.ft in the 2017 revision. The value then rose to Rs 1,300 per sq.ft in the 2023 revision and further increased to the current Rs 1,400 per sq.ft in the 2024 revision.

Between these revisions, there have been notable percentage changes. From 2007 to 2012, there was a substantial increase of 225%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 shows an increase of 8%. Overall, from 2007 to 2024, the guideline value has risen by 250%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Kumaran Street (1st Ward) is below this median.

• Kumaran Street (Puthur): Rs 1,900 per sq.ft (2024)
• Kumaran Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Kumaran Street (V.L. Puram): Rs 2,400 per sq.ft (2024)
• Kumarasamy Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Kumaran Cross Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Kumaran Cross Street (Ram Nagar): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Street (1st Ward)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000. Together, the total cost for these fees would be Rs 1,26,000. 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 detailed calculations.

Which Sub Registrar Office covers Kumaran Street (1st Ward)?

The Sub Registrar Office that covers Kumaran Street (1st Ward) is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To locate your SRO, visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Oragadam, as it determines the minimum value at which a property can be registered. This value is used by the Sub Registrar Office to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. 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 Street (1st Ward)?

The current guideline value of Kumaran Street (1st Ward) is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 400 per sq.ft in 2007, increasing to Rs 1,300 in 2012, then decreasing to Rs 871 in 2017, and rising again to Rs 1,300 in 2023, and finally reaching Rs 1,400 in 2024.

What are the stamp duty and registration fees for property in Kumaran Street?

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000, totaling Rs 1,26,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Kumaran Street?

The Ambattur Sub Registrar Office covers Kumaran Street (1st Ward). The office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How does the guideline value affect property transactions in Oragadam?

The guideline value is used to determine the minimum registration value for properties in Oragadam, influencing the calculation of stamp duty and registration fees. It ensures that properties are registered at a fair value, preventing undervaluation during transactions.