Guideline Value for Kumaran Street

Kumaran Street guideline value

The current guideline value of Kumaran Street in Cantonment Pallavaram village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

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 value was Rs 1,000 per sq.ft in 2007, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value decreased to Rs 1,675 per sq.ft in 2017. Following this, the value rose sharply to Rs 2,500 per sq.ft in 2023, and now stands at Rs 2,700 per sq.ft after the 2024 revision, marking an 8% increase from the previous year.

In summary, the changes in the guideline value from 2007 to 2024 reflect an overall increase of 170%. Notably, the revisions for the years 2002 and 2003 have no figures recorded for Kumaran Street.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a total of 81 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 11,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value of Kumaran Street.

• Kumarasamy Chetty Street: Rs 3,300 per sq.ft (2024)
• Kumaran Lane (STREET): Rs 2,700 per sq.ft (2024)
• Kumaraswamy Street: Rs 3,300 per sq.ft (2024)
• Kulathu Medu: Rs 2,200 per sq.ft (2024)
• King Street: Rs 2,200 per sq.ft (2024)
• Kayalar Street: Rs 2,200 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumaran Street?

The Sub Registrar Office covering Kumaran Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Cantonment Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration. The guideline value is set by the government and is periodically revised to reflect current market conditions.

When a property transaction occurs, the registration office uses the guideline value to calculate the applicable duties and fees. Buyers must ensure that they are aware of the current guideline 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 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Kumaran Street has increased from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over the years.

What is the land classification of Kumaran Street?

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

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

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, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 2,43,000.