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 Issa Pallavaram village and falls under the Pallavaram SRO, classified as Residential Class I Type - II.

How the guideline value of Kumaraswamy Street has changed

The guideline value for Kumaraswamy Street has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 267 per sq.ft. This value increased significantly to Rs 600 per sq.ft in 2007, marking a 125% rise. In 2012, the value remained at Rs 3,000 per sq.ft, followed by a decrease of 33% to Rs 2,010 per sq.ft in 2017. The value then rose by 49% to Rs 3,000 per sq.ft in 2023, and further increased by 10% to the current value of Rs 3,300 per sq.ft in 2024.

It is important to note that the register has no figure for Kumaraswamy Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 1136%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Kumaraswamy Street.

• Kulakkarai Street: Rs 2,750 per sq.ft (2024)
• Krishnaswamy Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 6th Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 5th Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 4th Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 3rd Street: Rs 3,300 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 at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

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.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Issa Pallavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented accurately.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the registration process. This ensures transparency and compliance with local regulations.

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 from Rs 267 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking a significant increase over the years.

What is the land classification for Kumaraswamy Street?

Kumaraswamy Street is classified as Residential Class I Type - II under the Pallavaram SRO.

Where is the Pallavaram Sub Registrar Office located?

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

How is stamp duty calculated for properties in Kumaraswamy Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.