Guideline Value for Kumarasamy Avenue

Kumarasamy Avenue guideline value

The current guideline value of Kumarasamy Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in 2nd Division village under the Kanchipuram Joint IV SRO and is classified as Residential Special Type - II.

How the guideline value of Kumarasamy Avenue has changed

Looking at the historical revisions, the guideline value for Kumarasamy Avenue has seen several changes over the years. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure remained the same until the next revision in 2017, where it decreased to Rs 2,010 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 3,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 figure to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in 2nd Division

In 2nd Division, there are 101 streets under the Kanchipuram Joint IV SRO that carry a guideline value for 2024, ranging from Rs 800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Kumarasamy Avenue's current value above this median.

• Kumar Street: Rs 1,650 per sq.ft (2024)
• Kumarai Chetty Street: Rs 1,650 per sq.ft (2024)
• Lalakuttai Street: Rs 1,100 per sq.ft (2024)
• Kottai Kollai Subrayar Street: Rs 1,650 per sq.ft (2024)
• Kotrampalayam Street: Rs 1,650 per sq.ft (2024)
• Maduranthottam Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumarasamy Avenue?

The Kanchipuram Joint IV Sub Registrar Office covers Kumarasamy Avenue. The office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for additional assistance.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value plays a crucial role in property transactions within 2nd Division. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must ensure that the sale price is not lower than the guideline value. If the sale price exceeds the guideline value, the duty is calculated based on the sale price instead. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kumarasamy Avenue?

The current guideline value of Kumarasamy Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty rates for properties in Kumarasamy Avenue?

The stamp duty rate for properties in Kumarasamy Avenue is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kumarasamy Avenue?

The Kanchipuram Joint IV Sub Registrar Office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

What is the median guideline value for streets in 2nd Division?

The median guideline value for streets in 2nd Division is Rs 1,650 per sq.ft, which is lower than the current guideline value of Kumarasamy Avenue.