Guideline Value for Kumaran Street

Kumaran Street guideline value

The current guideline value of Kumaran Street, located in Valasaravakkam village under the Virugambakkam SRO, is Rs 2,750 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Kumaran Street has changed

Over the years, the guideline value of Kumaran Street has seen several revisions. The earliest recorded figure is from 2002, when the guideline value was Rs 429 per sq.ft. This increased to Rs 467 per sq.ft in 2003, marking a change of +9%. The value then rose to Rs 500 per sq.ft in 2007, which is a +7% increase. A significant jump occurred in 2012 when the value reached Rs 2,500 per sq.ft, reflecting a +400% change from 2007. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017, a drop of -33% from the previous revision. The value then increased to Rs 2,500 per sq.ft in 2023, a +49% change, and finally, it stands at Rs 2,750 per sq.ft in 2024, showing a +10% increase.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 reflects an increase of +541% in the guideline value for Kumaran Street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, indicating that Kumaran Street's 2024 figure is below this median.

• Kumaran Colony: Rs 2,750 per sq.ft (2024)
• Kumaran Avenue 2nd Street: Rs 2,750 per sq.ft (2024)
• Kumaran Avenue 1st Street: Rs 2,750 per sq.ft (2024)
• Kumaran Avenue: Rs 2,750 per sq.ft (2024)
• Kuberan Street: Rs 3,300 per sq.ft (2024)
• Krishna Street: Rs 5,550 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 2,750 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kumaran Street?

The Sub Registrar Office that covers Kumaran Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is an essential factor during property registration in Valasaravakkam. It serves as the minimum value at which properties can be registered, ensuring that the transaction reflects a fair assessment of the property’s worth according to government standards.

When buying or selling property, the guideline value helps determine the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher amount between the guideline value and the sale price, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kumaran Street?

The current guideline value of Kumaran Street 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 changed multiple times, starting from Rs 429 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +541%.

What is the land classification for Kumaran Street?

Kumaran Street is classified under Residential Class IV Type - I as per the guidelines set by the authorities.

Where is the Sub Registrar Office for Kumaran Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,47,500.