Guideline Value for Kumarasamy Street (Vetri Nagar)

Kumarasamy Street (Vetri Nagar) guideline value

The current guideline value of Kumarasamy Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Kumarasamy Street (Vetri Nagar) has changed

The guideline value for Kumarasamy Street (Vetri Nagar) has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then dropped to Rs 2,010 per sq.ft in 2017. The next revision in 2023 set the value at Rs 3,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,301 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 313%. The changes between the revisions are notable, with a 49% increase from 2017 to 2023 and a remarkable 275% increase from 2007 to 2012. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, which is the same as the current guideline value for Kumarasamy Street (Vetri Nagar).

• Kumaran Nagar 80 feet Road: Rs 4,200 per sq.ft (2024)
• Kumaran Nagar 7th Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 7th Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Kumaran Nagar 6th Cross Street: Rs 3,301 per sq.ft (2024)
• Kumaran Nagar 5th Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumarasamy Street (Vetri Nagar)?

The Sub Registrar Office that covers Kumarasamy Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected based on the value of the property. This ensures compliance with local regulations and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kumarasamy Street (Vetri Nagar)?

The current guideline value of Kumarasamy Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 800 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 313% over this period.

What are the other streets in Peravallur with similar guideline values?

Other streets in Peravallur with similar guideline values include Kumaran Nagar 7th Street and Kumaran Nagar 7th Cross Street, both at Rs 3,301 per sq.ft in 2024.

What is the stamp duty rate in Chennai?

The stamp duty rate in Chennai is currently set at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can also find your SRO using the provided link.