Guideline Value for Kumarasamy Street

Kumarasamy Street guideline value

The current guideline value of Kumarasamy Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kumarasamy Street has changed

The guideline value for Kumarasamy Street has undergone several revisions over the years. Starting from Rs 945 per sq.ft in 2007, it saw a significant increase to Rs 6,000 per sq.ft in 2012, followed by a decrease to Rs 4,020 per sq.ft in 2017. The 2023 revision brought it back up to Rs 6,000 per sq.ft, and the latest revision in 2024 has set it at Rs 6,600 per sq.ft.

In terms of percentage changes, the value increased by 535% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 598%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, which matches the current guideline value of Kumarasamy Street.

• Kuppu Muthu Street: Rs 8,800 per sq.ft (2024)
• Krishnappa Street, Ch - 2: Rs 7,700 per sq.ft (2024)
• Krishnappa Mudali Street Ch - 5: Rs 5,500 per sq.ft (2024)
• Koya Arunagiri Street: Rs 6,600 per sq.ft (2024)
• Koya Arunagiri 5th Street: Rs 6,600 per sq.ft (2024)
• Koya Arunagiri 4th Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the necessary fees, which are essential for legal documentation. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value of Kumarasamy Street?

The current guideline value of Kumarasamy Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 598% over the years.

What is the land classification of Kumarasamy Street?

Kumarasamy Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Kumarasamy Street?

The Sub Registrar Office for Kumarasamy Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Kumarasamy Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.