Guideline Value for Kumaraswamy Street / Lord Srinivasa Colony

Kumaraswamy Street / Lord Srinivasa Colony guideline value

The current guideline value of Kumaraswamy Street / Lord Srinivasa Colony is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kumaraswamy Street / Lord Srinivasa Colony has changed

The guideline value for Kumaraswamy Street / Lord Srinivasa Colony has seen significant changes over the years. In 2002, the guideline value was Rs 174 per sq.ft. This increased to Rs 197 per sq.ft in 2003, marking a 13% rise. The value continued to grow, reaching Rs 360 per sq.ft in 2007, which represented an 83% increase from the previous figure. By 2017, the value had surged to Rs 1,206 per sq.ft, reflecting a remarkable 235% increase over the 2007 figure.

In 2023, the guideline value was Rs 1,800 per sq.ft, showing a 49% increase from the 2017 revision. The latest revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year. It is important to note that the register has no figure for this street for the year 2012.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Kumaraswamy Street / Lord Srinivasa Colony's 2024 figure below this median.

• Kumaran Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Kuppammal Street / Veeraswamy Nagar: Rs 1,980 per sq.ft (2024)
• Kuppaswamy Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Kulothungan Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Kulasekaran Street / Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Kulandaigal Street / Mungil Lake: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaraswamy Street / Lord Srinivasa Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost together to Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaraswamy Street / Lord Srinivasa Colony?

The Sub Registrar Office covering Kumaraswamy Street / Lord Srinivasa Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pammal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the Registration Department and reflects the value of the property in the area.

When selling property, the guideline value ensures that the sale price is appropriately registered with the government. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Kumaraswamy Street / Lord Srinivasa Colony?

The current guideline value of Kumaraswamy Street / Lord Srinivasa Colony is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 174 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 1,038% over the years.

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal is Rs 2,090 per sq.ft, which is above the current figure for Kumaraswamy Street / Lord Srinivasa Colony.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at the rate of 7%.

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

The Sub Registrar Office for Kumaraswamy Street / Lord Srinivasa Colony is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the appropriate link.