Guideline Value for Kumarasamy Lane

Kumarasamy Lane guideline value

The current guideline value of Kumarasamy Lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kumarasamy Lane has changed

The guideline value for Kumarasamy Lane has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 804 per sq.ft in 2017, a decline of 33%. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, reflecting a significant increase of 62% from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for Kumarasamy Lane. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Kumarasamy Lane's 2024 figure below that median.

• Kumarappan Street: Rs 1,300 per sq.ft (2024)
• Kumaresan Street: Rs 1,300 per sq.ft (2024)
• Kuppu Chetty Street (Kuppa Chetty Street): Rs 1,300 per sq.ft (2024)
• Kuppu Lane: Rs 1,300 per sq.ft (2024)
• Kumaran Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Kumaran Nagar 3rd street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. 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 further calculations.

Which Sub Registrar Office covers Kumarasamy Lane?

The Kumarasamy Lane is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions, thus helping to maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Kumarasamy Lane?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What are the stamp duty and registration fees for a property in Kumarasamy Lane?

For a property of 1,000 sq.ft at the current guideline value, the total guideline value would be Rs 13,00,000. The stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Kumarasamy Lane?

Kumarasamy Lane is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification of Kumarasamy Lane?

Kumarasamy Lane is classified as Residential Class II Type - I, indicating its designation for residential purposes.