Guideline Value for Kumaran Street / VOC Nagar

Kumaran Street / VOC Nagar guideline value

The current guideline value for Kumaran Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Kumaran Street / VOC Nagar has changed

The guideline value for Kumaran Street / VOC Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 184 per sq.ft. This increased to Rs 208 per sq.ft in 2003, marking a 13% rise. The value then jumped to Rs 360 per sq.ft in 2007, which was a 73% increase. Following this, the 2017 revision set the value at Rs 1,675 per sq.ft, reflecting a remarkable 365% increase from 2007. The 2023 revision further raised the guideline value to Rs 2,500 per sq.ft, a 49% increase from 2017. Finally, the current 2024 revision has set the value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there is no figure available for Kumaran Street / VOC Nagar in the 2012 revision.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Kumaran Street / VOC Nagar above this median.

• Kumaraswamy Street / Lord Srinivasa Colony: Rs 1,980 per sq.ft (2024)
• Kuppammal Street / Veeraswamy Nagar: Rs 1,980 per sq.ft (2024)
• Kulothungan Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Kuppaswamy Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Kulasekaran Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Kulandaigal Street / Mungil Lake: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Street / VOC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumaran Street / VOC Nagar?

The Sub Registrar Office that covers Kumaran Street / VOC Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Pammal. It serves as the basis for calculating stamp duty and registration fees, ensuring that both the buyer and seller are aware of the official valuation of the property. This value is used to determine the legal and financial obligations involved in the registration process.

When buying or selling property, it is important to consider the guideline value as it can affect the overall cost of the transaction. Buyers should be prepared to pay stamp duty and registration fees based on this value, which may influence their budget and financing options.

Frequently asked questions

What is the current guideline value for Kumaran Street / VOC Nagar?

The current guideline value for Kumaran Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 184 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 1395% over the years.

What is the land classification for Kumaran Street / VOC Nagar?

Kumaran Street / VOC Nagar is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Kumaran Street / VOC Nagar located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.