Guideline Value for Kumarappa Street

Kumarappa Street guideline value

The current guideline value of Kumarappa Street is Rs 7,700 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kumarappa Street has changed

The guideline value of Kumarappa Street has seen several revisions over the years. In 2007, the guideline value was Rs 2,800 per sq.ft. This figure increased significantly to Rs 7,000 per sq.ft in 2012, marking a 150% rise. However, in the 2017 revision, the value decreased to Rs 4,690 per sq.ft, representing a decline of 33%. The subsequent revision in 2023 set the value at Rs 7,000 per sq.ft, followed by the current value of Rs 7,700 per sq.ft in 2024, which reflects a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 175%. The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Kumarappa Street's 2024 figure below that median.

• Kumarappa Lane: Rs 6,000 per sq.ft (2024)
• Kushkumar Road: Rs 8,800 per sq.ft (2024)
• Kutty Street: Rs 7,700 per sq.ft (2024)
• Lady Madhavan Road: Rs 9,900 per sq.ft (2024)
• Lake Area 1st Cross Street: Rs 8,800 per sq.ft (2024)
• Lake Area 2nd Cross Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees together to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kumarappa Street?

The Sub Registrar Office that covers Kumarappa Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Nungambakkam. It is used to determine the stamp duty and registration fees payable when a property is sold or bought. The guideline value is set by the government and reflects the minimum value at which properties in a particular area can be registered.

When a buyer or seller engages in a transaction, they must consider the guideline value to ensure compliance with the legal requirements for registration. This value helps in assessing the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Kumarappa Street?

The current guideline value of Kumarappa Street is Rs 7,700 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,800 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 175% over the years.

What is the median guideline value for streets in Nungambakkam?

The median guideline value for streets in Nungambakkam is Rs 8,800 per sq.ft, which is higher than the current value of Kumarappa Street.

What are the stamp duty and registration fees for properties in Kumarappa Street?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft property, the total fees would be Rs 6,93,000.

Which office handles the registration for Kumarappa Street?

The Chennai Central Joint II Sub Registrar Office handles the registration for Kumarappa Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.