Guideline Value for Kumarasamy Nagar 1st Street

Kumarasamy Nagar 1st Street guideline value

The current guideline value of Kumarasamy Nagar 1st Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Kumarasamy Nagar 1st Street has changed

The guideline value for Kumarasamy Nagar 1st Street has undergone several revisions over the years. The oldest recorded revision is from 2012, which set the value at Rs 2,200 per sq.ft. The most recent revision in 2024 has increased this value to Rs 2,400 per sq.ft, reflecting a change of +9% from the 2012 figure.

There are no recorded guideline values for this street in the years 2002, 2003, 2007, 2017, and 2023. The 2024 figure of Rs 2,400 per sq.ft is significant as it aligns with the median value for the village.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, which is the same as the guideline value for Kumarasamy Nagar 1st Street.

• Kumarasamy Nagar 1st Main Road: Rs 2,400 per sq.ft (2024)
• Kumarasamy Nagar 2nd Cross Road: Rs 2,400 per sq.ft (2024)
• Kumarasamy Nagar 1st Cross Road: Rs 2,400 per sq.ft (2024)
• Kumarasamy Nagar 2nd Main Road: Rs 2,400 per sq.ft (2024)
• Kumarasamy Nagar: Rs 2,400 per sq.ft (2024)
• Kumarasamy Nagar 2nd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumarasamy Nagar 1st Street?

The Sub Registrar Office that covers Kumarasamy Nagar 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Kumarasamy Nagar 1st Street?

The current guideline value of Kumarasamy Nagar 1st Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 2,400 per sq.ft in 2024, reflecting a +9% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification of Kumarasamy Nagar 1st Street?

Kumarasamy Nagar 1st Street is classified as Commercial Class I Type - II. This classification may influence the types of developments allowed in the area.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Kumarasamy Nagar 1st Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Kumarasamy Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,68,000.