Guideline Value for Kumarapuram

Kumarapuram guideline value

The current guideline value of Kumarapuram, located in Nemilicherry village under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - II.

How the guideline value of Kumarapuram has changed

The guideline value for Kumarapuram has seen significant changes over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking an increase of 733%. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 817%.

Guideline values in Nemilicherry

Nemilicherry village has 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value is Rs 2,160 per sq.ft, placing Kumarapuram's 2024 figure above this median.

• Kumaran Street: Rs 2,200 per sq.ft (2024)
• Kuppan Street: Rs 2,160 per sq.ft (2024)
• Kuppu Naicken Pettai: Rs 2,160 per sq.ft (2024)
• Kurathiamman Koil Cross Street: Rs 2,160 per sq.ft (2024)
• Kurathiamman Koil Street: Rs 2,160 per sq.ft (2024)
• Kurinji Nagar: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total cost of Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumarapuram?

Kumarapuram falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nemilicherry, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the registration office uses the guideline value to calculate applicable duties and fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from the sale.

Frequently asked questions

What is the current guideline value of Kumarapuram?

The current guideline value of Kumarapuram is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 817% over the years.

What is the land classification of Kumarapuram?

Kumarapuram is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

What are the stamp duty rates for property in Kumarapuram?

The stamp duty rate for property transactions in Kumarapuram is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kumarapuram?

The Sub Registrar Office covering Kumarapuram is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.