Guideline Value for Kumaran Street (Kuthira Kuthi Thazai) (Ward-01)

Kumaran Street (Kuthira Kuthi Thazai) (Ward-01) guideline value

The current guideline value of Kumaran Street (Kuthira Kuthi Thazai) (Ward-01) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kumaran Street (Kuthira Kuthi Thazai) (Ward-01) has changed

The guideline value for Kumaran Street (Kuthira Kuthi Thazai) has seen several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 1,200 per sq.ft. This figure increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 25% rise. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 33%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging 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 of Kumaran Street (Kuthira Kuthi Thazai) aligns with this median at Rs 1,600 per sq.ft.

• Kumaran street Main Rd. (Ward No.1): Rs 2,200 per sq.ft (2024)
• Kumaran street Extension Rd (Ward No.1): Rs 2,200 per sq.ft (2024)
• Kumaran Street / Nagar (Lakshmipuram): Rs 2,200 per sq.ft (2024)
• Kumaran Street (Sri Lakshmi Nagar): Rs 1,600 per sq.ft (2024)
• Kumaran street 2nd Street (Ward No.1): Rs 2,200 per sq.ft (2024)
• Kumaran Street (Ward No.1): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Street (Kuthira Kuthi Thazai) (Ward-01)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kumaran Street (Kuthira Kuthi Thazai) (Ward-01)?

The Sub Registrar Office that covers Kumaran Street (Kuthira Kuthi Thazai) (Ward-01) 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 the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kumaran Street (Kuthira Kuthi Thazai)?

The current guideline value of Kumaran Street (Kuthira Kuthi Thazai) (Ward-01) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in 2024. This represents an overall increase of 33% from 2012 to 2024.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Kumaran Street?

The Madhavaram Sub Registrar Office handles registrations for Kumaran Street (Kuthira Kuthi Thazai) (Ward-01). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Kumaran Street?

Kumaran Street (Kuthira Kuthi Thazai) is classified as Residential Class II Type - I, indicating its suitability for residential development.