Guideline Value for Kumaraswamy Achari Street

Kumaraswamy Achari Street guideline value

The current guideline value of Kumaraswamy Achari Street is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village, under the Pammal Sub Registrar Office (SRO), and is classified as Commercial Class I Type - I.

How the guideline value of Kumaraswamy Achari Street has changed

The guideline value of Kumaraswamy Achari Street has seen significant revisions over the years. In 2003, the value was Rs 312 per sq.ft, which increased to Rs 810 per sq.ft in 2007. This was a remarkable change of 160%. The value then rose to Rs 1,742 per sq.ft in 2017, marking an increase of 115%. Following this, the 2023 revision set the value at Rs 2,600 per sq.ft, reflecting a 49% increase from 2017. The most recent revision in 2024 has set the guideline value at Rs 2,860 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 817%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing Kumaraswamy Achari Street's 2024 value above this median.

• Kumaraswamy Street Backside 1st Street: Rs 2,420 per sq.ft (2024)
• Kumaraswamy Street Backside 2nd Street: Rs 2,420 per sq.ft (2024)
• Kula Street: Rs 2,200 per sq.ft (2024)
• Kulakarai Street / Lakshmipuram: Rs 2,860 per sq.ft (2024)
• Kulakarai 4th Cross Street: Rs 2,420 per sq.ft (2024)
• Kulakarai 3rd Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaraswamy Achari Street

For a 1,000 sq.ft plot at the current rate of Rs 2,860 per sq.ft, the guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, totaling Rs 2,57,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Kumaraswamy Achari Street?

The Kumaraswamy Achari Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency in property transactions and helps in maintaining the integrity of the real estate market.

Frequently asked questions

What is the current guideline value of Kumaraswamy Achari Street?

The current guideline value of Kumaraswamy Achari Street is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 312 per sq.ft in 2003 to Rs 2,860 per sq.ft in 2024, marking an overall increase of 817% over the years.

What is the land classification of Kumaraswamy Achari Street?

Kumaraswamy Achari Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Thiruneermalai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,60,000, the stamp duty would be Rs 2,00,200 at a rate of 7%.