Guideline Value for Kumaraswamy Street Backside 1st Street

Kumaraswamy Street Backside 1st Street guideline value

The current guideline value for Kumaraswamy Street Backside 1st Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kumaraswamy Street Backside 1st Street has changed

The guideline value for Kumaraswamy Street Backside 1st Street has seen several revisions over the years. The earliest recorded revision was in 2017, with a guideline value of Rs 1,474 per sq.ft. This value increased to Rs 2,200 per sq.ft in 2023, marking a significant increase of 49%. The most recent revision in 2024 set the value at Rs 2,420 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that there are no figures recorded for this street in the revisions of 2002, 2003, 2007, and 2012.

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, which is the same as the current value for Kumaraswamy Street Backside 1st Street.

• Kumaraswamy Street Backside 2nd Street: Rs 2,420 per sq.ft (2024)
• Kumaraswamy Achari Street: Rs 2,860 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 Street Backside 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, while the registration fee at 2% would be Rs 48,400. Together, the total cost for stamp duty and registration would be Rs 2,17,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaraswamy Street Backside 1st Street?

The Sub Registrar Office that covers Kumaraswamy Street Backside 1st Street is 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 when buying or selling property in Thiruneermalai, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When a buyer or seller approaches the registration office, the guideline value will be referenced to ensure that the transaction is compliant with local regulations. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Kumaraswamy Street Backside 1st Street?

The current guideline value for Kumaraswamy Street Backside 1st Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,474 per sq.ft in 2017 to Rs 2,420 per sq.ft in 2024, which is an overall increase of 64% over this period.

What is the land classification for Kumaraswamy Street Backside 1st Street?

Kumaraswamy Street Backside 1st Street is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Kumaraswamy Street Backside 1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties on this street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400.