Guideline Value for Kumarappa Street

Kumarappa Street guideline value

The current guideline value of Kumarappa Street in Vepery village, under the Periamet SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - II land classification.

How the guideline value of Kumarappa Street has changed

The guideline value for Kumarappa Street has seen significant changes over the years. In the 2007 revision, the value was Rs 800 per sq.ft, which increased dramatically to Rs 7,000 per sq.ft in 2012, marking a rise of 775%. However, the value then decreased to Rs 4,690 per sq.ft in the 2017 revision, a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 7,000 per sq.ft, followed by a further increase to Rs 7,700 per sq.ft in 2024, representing a 10% increase.

There are no figures available for Kumarappa Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 863%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value for these streets is Rs 4,800 per sq.ft, placing Kumarappa Street's 2024 figure above this median.

• Kumarasamy RaJa 2nd Street: Rs 2,700 per sq.ft (2024)
• Kumarasamy RaJa 3rd Street: Rs 2,700 per sq.ft (2024)
• Kumarasamy Raja Ist Street: Rs 2,700 per sq.ft (2024)
• Kumarasamy Rajapuram: Rs 2,700 per sq.ft (2024)
• Kunnathamman Naicken Street: Rs 4,800 per sq.ft (2024)
• Kuppu Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarappa Street

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that 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 details.

Which Sub Registrar Office covers Kumarappa Street?

The Sub Registrar Office that covers Kumarappa Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Vepery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps in determining the legal obligations involved in the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

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, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 863% over the years.

What is the land classification for Kumarappa Street?

Kumarappa Street is classified as Commercial Class I Type - II under the land classification system.

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

The Sub Registrar Office for Kumarappa Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Kumarappa Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at a rate of 7%.