Guideline Value for Kumarasamy RaJa 3rd Street

Kumarasamy RaJa 3rd Street guideline value

The current guideline value of Kumarasamy RaJa 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kumarasamy RaJa 3rd Street has changed

The guideline value for Kumarasamy RaJa 3rd Street has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 800 per sq.ft. This value saw a significant increase to Rs 2,500 per sq.ft in 2012, marking a rise of 213%. However, the value decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,700 per sq.ft in 2024, which is an 8% increase.

Notably, the revisions for the years 2002 and 2003 do not have figures recorded for this street. Overall, from 2007 to 2024, the guideline value has increased by 238%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. Kumarasamy RaJa 3rd Street's 2024 figure is below this median.

• Kumarasamy RaJa 2nd 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total 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.

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

Which Sub Registrar Office covers Kumarasamy RaJa 3rd Street?

The Sub Registrar Office that covers Kumarasamy RaJa 3rd Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

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

When a property is bought or sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kumarasamy RaJa 3rd Street?

The current guideline value of Kumarasamy RaJa 3rd 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 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 238% over the years.

What is the land classification for Kumarasamy RaJa 3rd Street?

Kumarasamy RaJa 3rd Street is classified as Residential Class IV Type - I.

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

The Sub Registrar Office covering Kumarasamy RaJa 3rd Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.