Guideline Value for Kumarasamy Street

Kumarasamy Street guideline value

The current guideline value of Kumarasamy Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kumarasamy Street has changed

The guideline value for Kumarasamy Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,210 per sq.ft, which increased to Rs 3,750 per sq.ft in the 2012 revision, marking a rise of 210%. The most recent revision in 2024 set the value at Rs 4,100 per sq.ft, reflecting a 9% increase from 2012.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 239%. It is important to note that the register has no figures for the years 2002, 2003, 2017, and 2023 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, positioning Kumarasamy Street's 2024 figure below that median.

• Kunjammal Street(M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Kuppusamy Mudali Street Block 85: Rs 4,100 per sq.ft (2024)
• Kurunchi Street: Rs 3,300 per sq.ft (2024)
• Kuthadum Pillaiyar Koil Steet: Rs 3,300 per sq.ft (2024)
• Lake Street (Erikkarai Street)(N.P): Rs 3,300 per sq.ft (2024)
• Kulakkarai Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy Street

For a 1,000 sq.ft plot at the current rate of Rs 4,100 per sq.ft, the guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that 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 Street?

The Sub Registrar Office that covers Kumarasamy Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For more information, you can find your SRO.

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

The guideline value is an essential factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumarasamy Street?

The current guideline value of Kumarasamy Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 239%.

What is the land classification for Kumarasamy Street?

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

Where can I find the Ashok Nagar Sub Registrar Office?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Kumarasamy Street's current value being below this median.