Guideline Value for Kumaran Street

Kumaran Street guideline value

The current guideline value of Kumaran Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Meenambakkam village and falls under the Pammal SRO. The land classification for this area is Residential Class I 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 2002, the figure was Rs 578 per sq.ft, which increased to Rs 675 per sq.ft in 2003, marking a 17% rise. The value further increased to Rs 935 per sq.ft in 2007, reflecting a 39% change. By 2017, the guideline value had risen significantly to Rs 2,345 per sq.ft, showing a 151% increase from the previous revision.

In 2023, the value was set at Rs 3,500 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 has brought the guideline value to Rs 3,850 per sq.ft, a further increase of 10%. It is important to note that the register has no figure for Kumaran Street for the year 2012.

Guideline values in Meenambakkam

In Meenambakkam, there are 17 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which is equal to the current guideline value of Kumaran Street.

• Kasi Garden: Rs 3,850 per sq.ft (2024)
• Kamaraj Street: Rs 4,400 per sq.ft (2024)
• G.S.T. Road: Rs 8,800 per sq.ft (2024)
• Oowaiyar Street: Rs 3,300 per sq.ft (2024)
• Pandian Street: Rs 3,300 per sq.ft (2024)
• E.V.R. 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, these fees total Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaran Street?

Kumaran Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Meenambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring 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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 578 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 566% over the years.

What are the other streets in Meenambakkam with their guideline values?

Other streets in Meenambakkam include Kasi Garden at Rs 3,850 per sq.ft, Kamaraj Street at Rs 4,400 per sq.ft, and G.S.T. Road at Rs 8,800 per sq.ft, among others.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Kumaran Street located?

The Pammal Sub Registrar Office, which covers Kumaran Street, is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.