Guideline Value for Kumaran Street

Kumaran Street guideline value

The current guideline value of Kumaran Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II 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 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. However, in the 2023 revision, the value increased back to Rs 1,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,100 per sq.ft. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 is an increase of 10%. The most recent change from 2023 to 2024 reflects a 10% increase in the guideline value.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Kumaran Street's 2024 figure below this median.

• Kundalakasi Street: Rs 1,100 per sq.ft (2024)
• Kurinji Nagar Cross Street: Rs 1,100 per sq.ft (2024)
• Kurinji Street: Rs 1,320 per sq.ft (2024)
• Krishnaveniammal Street: Rs 1,320 per sq.ft (2024)
• Lakshmi cross st: Rs 1,100 per sq.ft (2024)
• Lakshmi Narasimhan Street: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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 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 Peerklankaranai

The guideline value is a crucial factor during the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property, which can influence negotiations and the final sale price. It is essential for all parties involved to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kumaran Street?

The current guideline value of Kumaran Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

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.

What is the land classification of Kumaran Street?

Kumaran Street is classified as Residential Class II Type - I, indicating its suitability for residential development.