Guideline Value for Kumaran Street

Kumaran Street guideline value

The current guideline value of Kumaran Street in Chitlapakkam village, under the Tambaram Joint 1 SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Kumaran Street has changed

The guideline value for Kumaran Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 1,005 per sq.ft. The following revision in 2023 saw a significant increase to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Kumaran Street.

• Kumar Street: Rs 1,100 per sq.ft (2024)
• Kulothungan street: Rs 2,750 per sq.ft (2024)
• Kuppachary Street: Rs 3,850 per sq.ft (2024)
• Kuppusamy Nagar: Rs 1,100 per sq.ft (2024)
• Kuppusamy St: Rs 2,750 per sq.ft (2024)
• Kulakkarai street: Rs 1,650 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, these fees would total Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration.

When a property transaction occurs, the guideline value is used to ensure that the taxes collected are based on the official valuation of the property, rather than the sale price, if the sale price is lower. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Kumaran Street?

The current guideline value of Kumaran Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Kumaran Street?

Kumaran Street falls under the Residential Class I Type - III land classification.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000, leading to a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Kumaran Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Kumaran Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.