Guideline Value for Kumaran street Extension Rd ( Ward No.1 )

Kumaran street Extension Rd ( Ward No.1 ) guideline value

The current guideline value of Kumaran street Extension Rd ( Ward No.1 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kumaran street Extension Rd ( Ward No.1 ) has changed

The guideline value for Kumaran street Extension Rd has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a 33% rise. The most recent revision in 2024 raised the value further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are several years where the register has no figure for this street, specifically 2002, 2003, 2007, and 2017. Overall, from 2012 to 2024, the guideline value has increased by 47%.

Guideline values in Madhavaram

In Madhavaram, the guideline values for 2024 range from Rs 1,300 to Rs 7,500 per sq.ft, with a median of Rs 1,600 per sq.ft. The guideline value for Kumaran street Extension Rd is above this median, indicating a higher valuation compared to many other streets in the area.

• Kumaran Street (Kuthira Kuthi Thazai) (Ward-01): Rs 1,600 per sq.ft (2024)
• Kumaran street 2nd Street ( Ward No.1 ): Rs 2,200 per sq.ft (2024)
• Kumaran street Main Rd. ( Ward No.1 ): Rs 2,200 per sq.ft (2024)
• Kumaran street 1st Street ( Ward No.1 ): Rs 1,600 per sq.ft (2024)
• Kumaran Street / Nagar (Lakshmipuram): Rs 2,200 per sq.ft (2024)
• Kumaran Street (Sri Lakshmi Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran street Extension Rd ( Ward No.1 )

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. 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 Extension Rd ( Ward No.1 )?

The Sub Registrar Office that covers Kumaran street Extension Rd ( Ward No.1 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When you buy or sell property, the guideline value will influence the stamp duty and registration fees applicable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Kumaran street Extension Rd?

The current guideline value of Kumaran street Extension Rd ( Ward No.1 ) is Rs 2,200 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 2,200 per sq.ft in 2024, showing an overall increase of 47% over this period.

What is the land classification for Kumaran street Extension Rd?

The land classification for Kumaran street Extension Rd ( Ward No.1 ) is Residential Class I Type - I.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Kumaran street Extension Rd?

Stamp duty is calculated at 7% on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,54,000.