Guideline Value for Kumaraswamy Street Backside 2nd Street

Kumaraswamy Street Backside 2nd Street guideline value

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

How the guideline value of Kumaraswamy Street Backside 2nd Street has changed

The guideline value for Kumaraswamy Street Backside 2nd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,420 per sq.ft, an increase of 10% from the 2023 figure of Rs 2,200 per sq.ft. Looking back further, the value was Rs 1,474 per sq.ft in 2017, marking a significant increase of 49% to the 2023 figure. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that there are no figures available for the revisions in 2012, 2007, 2003, and 2002 for this street.

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 value is Rs 2,420 per sq.ft, which is equal to the 2024 figure for Kumaraswamy Street Backside 2nd Street.

• Kumaraswamy Street Backside 1st 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 2nd 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, and the registration fee at 2% would be Rs 48,400. Together, these fees would total Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kumaraswamy Street Backside 2nd Street?

The Kumaraswamy Street Backside 2nd Street falls under the jurisdiction of 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 Thiruneermalai

The guideline value is an essential factor in property transactions in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is used to calculate the applicable fees, which can impact the overall cost of the transaction. It is crucial 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 of Kumaraswamy Street Backside 2nd Street?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,474 per sq.ft in 2017 to Rs 2,420 per sq.ft in 2024, representing an overall increase of 64%. The most recent revision in 2024 saw a 10% increase from the previous year's value.

What is the land classification for Kumaraswamy Street Backside 2nd Street?

Kumaraswamy Street Backside 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where is the Pammal Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 2,17,800.