Guideline Value for Kumarasamy Raja Ist Street

Kumarasamy Raja Ist Street guideline value

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

How the guideline value of Kumarasamy Raja Ist Street has changed

The guideline value for Kumarasamy Raja Ist Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 800 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 213%. However, it decreased to Rs 1,675 per sq.ft in 2017, a decline of 33%. The value then rose sharply to Rs 2,500 per sq.ft in 2023, and further increased to the current Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 238%.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value for these streets is Rs 4,800 per sq.ft, placing Kumarasamy Raja Ist Street's current value below this median.

• Kumarasamy RaJa 3rd Street: Rs 2,700 per sq.ft (2024)
• Kumarasamy Rajapuram: Rs 2,700 per sq.ft (2024)
• Kumarasamy RaJa 2nd Street: 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 Ist 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, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumarasamy Raja Ist Street?

The Sub Registrar Office that covers Kumarasamy Raja Ist 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 plays a crucial role when buying or selling property in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumarasamy Raja Ist Street?

The current guideline value of Kumarasamy Raja Ist 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 of Kumarasamy Raja Ist Street?

Kumarasamy Raja Ist Street is classified as Residential Class IV Type - I.

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

The Sub Registrar Office for Kumarasamy Raja Ist 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 higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.