Guideline Value for Kumarasamy RaJa 2nd Street

Kumarasamy RaJa 2nd Street guideline value

The current guideline value of Kumarasamy RaJa 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kumarasamy RaJa 2nd Street has changed

The guideline value for Kumarasamy RaJa 2nd Street has undergone several revisions over the years. The 2012 revision was set at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and then further rose to Rs 2,700 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a substantial increase of 49%. The change from 2023 to 2024 is an increase of 8%. Overall, comparing the figures from 2012 to 2024, there has been an increase of 8% in the guideline value.

Guideline values in Vepery

In Vepery, there are a total of 290 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, which means Kumarasamy RaJa 2nd Street's 2024 figure is below this median.

• 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)
• Kumarappa Street: Rs 7,700 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 Kumarasamy RaJa 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total charges to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Kumarasamy RaJa 2nd Street?

The Kumarasamy RaJa 2nd Street falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For further details, you can find your SRO.

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

The guideline value is a critical factor when buying or selling property in Vepery. It is used to determine the stamp duty and registration fees that are applicable at the time of registration. This ensures that the transaction is recorded at a value that reflects the current market conditions as set by the government.

When you register a property, the guideline value serves as a benchmark for calculating the taxes owed. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the duty is charged on whichever is higher.

Frequently asked questions

What is the current guideline value of Kumarasamy RaJa 2nd Street?

The current guideline value of Kumarasamy RaJa 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the median guideline value for streets in Vepery?

The median guideline value for the 290 streets in Vepery under the Periamet SRO is Rs 4,800 per sq.ft.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the total charges would be Rs 2,43,000.

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

The Sub Registrar Office covering Kumarasamy RaJa 2nd Street is the Periamet SRO, located at 1103, Poonamallee High Road, Chennai-600 003.