Guideline Value for Kumaran Street

Kumaran Street guideline value

The current guideline value of Kumaran Street in Kadaperi village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Kumaran Street has changed

The guideline value for Kumaran Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value rose significantly to Rs 1,200 per sq.ft in 2023, and again increased to Rs 1,320 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for Kumaran Street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Kadaperi

Kadaperi village has a total of 142 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Kumaran Street's 2024 figure below that median.

• Labour School 1st Street: Rs 880 per sq.ft (2024)
• Labour School 2nd Street: Rs 880 per sq.ft (2024)
• Labour School 3rd Street: Rs 880 per sq.ft (2024)
• L.I.G.H. Street: Rs 1,100 per sq.ft (2024)
• Loordharan Church Street: Rs 1,320 per sq.ft (2024)
• Kasthuri Bai 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 rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kumaran Street?

Kumaran Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kadaperi. It serves as a benchmark for determining the minimum price at which property transactions can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price. The higher of the two amounts is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately and fairly in the official records.

Frequently asked questions

What is the current guideline value of Kumaran Street?

The current guideline value of Kumaran Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

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

Other streets in Kadaperi include Labour School 1st Street, Labour School 2nd Street, Labour School 3rd Street, L.I.G.H. Street, Loordharan Church Street, and Kasthuri Bai Street, with values ranging from Rs 880 to Rs 1,650 per sq.ft in 2024.

What fees are associated with buying property in Kumaran Street?

When buying property in Kumaran Street, buyers should be aware of the stamp duty at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

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

The Tambaram Joint 1 Sub Registrar Office covers Kumaran Street and is located at No.26, Mes Road, East Tambaram, Chennai-600059.