Guideline Value for Kumaran Street

Kumaran Street guideline value

The current guideline value of Kumaran Street in Nemili_B village, under the Sriperumpudur SRO, is Rs 200 per sq.ft. This value is effective from 1 July 2024. 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. The 2017 revision set the value at Rs 134 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded the value at Rs 200 per sq.ft. The most recent revision in 2024 continued this value at Rs 200 per sq.ft, indicating no change from the previous year. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

From the 2017 revision to the 2023 revision, there was an increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 49%, reflecting the changes in property valuation over the years.

Guideline values in Nemili_B

In Nemili_B village, there are 97 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Kumaran Street's 2024 figure below this median.

• Kulakkarai Street: Rs 150 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 250 per sq.ft (2024)
• Lucky Land: Rs 250 per sq.ft (2024)
• Madha Koil Street: Rs 200 per sq.ft (2024)
• Madhuramman Koil Cross Street: Rs 150 per sq.ft (2024)
• Madhuramman Koil Street: Rs 150 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, which would be Rs 14,000, and the registration fee at 2% amounts to Rs 4,000. Therefore, the total cost for stamp duty and registration fee would be Rs 18,000. It is important to note that the 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?

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. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Nemili_B. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the assessed value of the property rather than the sale price.

When a property is registered, the guideline value is used to ascertain the applicable fees. This process helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Kumaran Street?

The current guideline value of Kumaran Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in both 2023 and 2024, marking a 49% increase overall during this period.

What is the land classification for Kumaran Street?

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

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 stamp duty calculated for properties in Kumaran Street?

Stamp duty is 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 incurs a total stamp duty and registration fee of Rs 18,000.