Guideline Value for Kumaran street(Iyappan nagar)

Kumaran street(Iyappan nagar) guideline value

The current guideline value of Kumaran street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Kumaran street(Iyappan nagar) has changed

The guideline value of Kumaran street has undergone several revisions over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which significantly increased to Rs 1,600 per sq.ft in the 2012 revision. However, there was a decrease to Rs 1,072 per sq.ft in the 2017 revision. Following this, the value rose to Rs 1,600 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,700 per sq.ft. The changes from 2012 to 2017 saw a decline of 33%, while the jump from 2017 to 2023 was a notable increase of 49%.

From 2007 to 2012, the guideline value increased by 300%, and overall, from 2007 to 2024, there has been a substantial increase of 325%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, making the 2024 figure for Kumaran street (Iyappan nagar) above this median.

• Kulakkarai street: Rs 880 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Kousalya street(Maruthiram nagar): Rs 1,100 per sq.ft (2024)
• Lakshmi street(maruthiram nagar): Rs 1,100 per sq.ft (2024)
• Lotus Avenue: Rs 1,700 per sq.ft (2024)
• Lotus Avenue Phase -II: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran street(Iyappan nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, resulting in a total of Rs 1,53,000 for these charges. Please 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(Iyappan nagar)?

The Sub Registrar Office that covers Kumaran street (Iyappan nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayappakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the transaction.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. It is essential to consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kumaran street (Iyappan nagar)?

The current guideline value of Kumaran street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, with various revisions in between, including a significant increase of 300% from 2007 to 2012.

What is the land classification for Kumaran street (Iyappan nagar)?

The land classification for Kumaran street (Iyappan nagar) is Residential Special Type - II.

Where can I find the Sub Registrar Office for Kumaran street (Iyappan nagar)?

The Sub Registrar Office for Kumaran street (Iyappan nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Kumaran street (Iyappan nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,700 per sq.ft would incur a total guideline value of Rs 17,00,000.