Guideline Value for Kumaran Street

Kumaran Street guideline value

The current guideline value of Kumaran Street in Thalakanancherry village is Rs 2,800 per sq.ft, effective from 1 July 2024. This area falls under the Alandur SRO and is classified as Residential Class II Type - II.

How the guideline value of Kumaran Street has changed

The guideline value for Kumaran Street has seen several revisions over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in the 2017 revision. The value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,800 per sq.ft in 2024.

Between the revisions, there were notable changes. From 2007 to 2012, the value increased by 257%. However, from 2012 to 2017, it decreased by 33%. The value then surged by 49% from 2017 to 2023, and finally, there was a 12% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,900 per sq.ft, making Kumaran Street's current value below that median.

• Lakshmi Nagar 10th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 11th Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 1st Main road: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar 2nd Cross Street: Rs 4,400 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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 Thalakanancherry

The guideline value is a crucial factor in property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value of a property during registration, ensuring that the property is not undervalued.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for both buyers and sellers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kumaran Street?

The current guideline value of Kumaran Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 300% over the years.

What is the land classification for Kumaran Street?

Kumaran Street is classified as Residential Class II Type - II under the Alandur SRO.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

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.