Guideline Value for Kumaran Street

Kumaran Street guideline value

The current guideline value of Kumaran Street in Palavanthangal village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class I Type - II.

How the guideline value of Kumaran Street has changed

The guideline value for Kumaran Street has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 1,250 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 220%. However, in 2017, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The next revision in 2023 saw the value increase to Rs 4,000 per sq.ft, followed by a further increase to the current value of Rs 4,400 per sq.ft in 2024, representing a 10% increase.

There are no figures available for Kumaran Street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 252%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Kumaran Street is above this median.

• Krishnasamy Street: Rs 4,400 per sq.ft (2024)
• Maraimalai Adigalar Street / Panar Street: Rs 3,300 per sq.ft (2024)
• Kannan colony 5th Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 4th Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 3rd Street: Rs 2,800 per sq.ft (2024)
• Kannan Colony 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Street?

The Sub Registrar Office that covers Kumaran Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Palavanthangal. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value is set by the government and can vary by street and locality.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumaran Street?

The current guideline value of Kumaran Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,250 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with various increases and decreases in between.

What is the stamp duty rate for properties in Kumaran Street?

The stamp duty rate for properties in Kumaran Street is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Kumaran Street located?

The Sub Registrar Office for Kumaran Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value determined for properties?

The guideline value is determined by the government and varies by locality and street. It is used for calculating stamp duty and registration fees during property transactions.