Guideline Value for Kumaraswamy Street

Kumaraswamy Street guideline value

The current guideline value of Kumaraswamy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of Kumaraswamy Street has changed

The guideline value for Kumaraswamy Street has seen several revisions over the years. In 2003, the guideline value was Rs 174 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. The value then rose to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023, and a further increase to Rs 3,300 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1797%. The register has no figure for Kumaraswamy Street for the year 2002.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value is Rs 2,700 per sq.ft, positioning Kumaraswamy Street's 2024 figure above this median.

• Kumarasamy Chetty Street: Rs 3,300 per sq.ft (2024)
• Kumaran Street: Rs 2,700 per sq.ft (2024)
• Kumaran Lane (STREET): Rs 2,700 per sq.ft (2024)
• Kulathu Medu: Rs 2,200 per sq.ft (2024)
• King Street: Rs 2,200 per sq.ft (2024)
• Kayalar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaraswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. The total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaraswamy Street?

The Sub Registrar Office that covers Kumaraswamy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Cantonment Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable fees. It is essential to note that the fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumaraswamy Street?

The current guideline value of Kumaraswamy Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 174 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1797% over the years.

What is the stamp duty rate for properties in Kumaraswamy Street?

The stamp duty rate for properties in Kumaraswamy Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kumaraswamy Street located?

The Sub Registrar Office for Kumaraswamy Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value in Cantonment Pallavaram?

The median guideline value in Cantonment Pallavaram is Rs 2,700 per sq.ft, with Kumaraswamy Street's value above this median at Rs 3,300 per sq.ft.