Guideline Value for Kumaran Street

Kumaran Street guideline value

The current guideline value of Kumaran Street is Rs 210 per sq.ft, effective from 1 July 2024. This street is located in Nemili village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kumaran Street has changed

The guideline value for Kumaran Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 200 per sq.ft, which was a decrease of 33% from Rs 134 per sq.ft in the 2017 revision. The value remained at Rs 200 per sq.ft in 2012 until it increased to Rs 210 per sq.ft in the 2023 revision, marking a 49% increase. The current value of Rs 210 per sq.ft reflects a 5% increase from the previous revision in 2023.

It is important to note that there are no figures available for Kumaran Street in the revisions from 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 5%.

Guideline values in Nemili

In Nemili, there are 66 streets under the Sriperumpudur SRO that have a guideline value for 2024, ranging from Rs 150 to Rs 1,000 per sq.ft. The median guideline value in this village is Rs 250 per sq.ft, which means Kumaran Street's 2024 figure is below that median.

• Lakshmi Amman Koil Street: Rs 250 per sq.ft (2024)
• Lucky Land: Rs 250 per sq.ft (2024)
• Madha Koil Street: Rs 210 per sq.ft (2024)
• Karthik Nagar: Rs 210 per sq.ft (2024)
• Manasa Devi Nagar: Rs 250 per sq.ft (2024)
• Marshal Share: Rs 300 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 210 per sq.ft, the total guideline value amounts to Rs 2,10,000. The stamp duty at 7% would be Rs 14,700, and the registration fee at 2% would be Rs 4,200, bringing the total fees to Rs 18,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Street?

The Sub Registrar Office that covers Kumaran Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nemili. It serves as a basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal and financial obligations during the registration process.

When a property is registered, the guideline value helps determine the official value of the property for taxation purposes. This ensures that the government receives the appropriate fees based on the established rates, which can vary by location and land classification.

Frequently asked questions

What is the current guideline value of Kumaran Street?

The current guideline value of Kumaran Street is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kumaran Street has changed from Rs 200 per sq.ft in 2012 to Rs 210 per sq.ft in 2024, with notable fluctuations in the intervening years.

What is the land classification for Kumaran Street?

Kumaran Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.

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

The Sub Registrar Office for Kumaran Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

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

Stamp duty for properties in Kumaran Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied.