Guideline Value for Kumaran Street

Kumaran Street guideline value

The current guideline value of Kumaran Street in Padiyanallur village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Kumaran Street has changed

The guideline value for Kumaran Street has undergone several revisions over the years. In 2003, the value was Rs 92 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. The value then saw a substantial rise to Rs 600 per sq.ft in 2012, before dropping to Rs 402 per sq.ft in 2017. The most recent revisions show a rise to Rs 600 per sq.ft in 2023, followed by the current value of Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, the guideline value has increased from Rs 92 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, reflecting a total increase of 617%. It is important to note that there is no figure available for Kumaran Street in the 2002 revision.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. Kumaran Street's 2024 value of Rs 660 per sq.ft is below this median.

• Kumaravel Street: Rs 770 per sq.ft (2024)
• Kulathu Street (PANNEERVAKKAM): Rs 385 per sq.ft (2024)
• Lal Bahadur Shastri Street: Rs 770 per sq.ft (2024)
• Ko.C. Mani Street: Rs 770 per sq.ft (2024)
• Kennedy Street: Rs 770 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 2,750 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is essential to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Street?

Kumaran Street is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padiyanallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When registering a property, the guideline value is considered alongside the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is standardized and transparent.

Frequently asked questions

What is the current guideline value of Kumaran Street?

The current guideline value of Kumaran Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 92 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, showing an overall increase of 617% over the years.

What is the land classification for Kumaran Street?

Kumaran Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Kumaran Street?

The Sub Registrar Office covering Kumaran Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Kumaran Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 46,200.