Guideline Value for Kumaresan Street

Kumaresan Street guideline value

The current guideline value of Kumaresan Street in Tondaiarpet village, under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Kumaresan Street has changed

The guideline value for Kumaresan Street has undergone several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 1,300 per sq.ft, which represents a 62% rise from the 2017 figure. Overall, from 2012 to 2024, there has been a slight increase of 8%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for Kumaresan Street.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Kumaresan Street's current value is below this median.

• Kumarasamy Lane: Rs 1,300 per sq.ft (2024)
• Kumarappan Street: Rs 1,300 per sq.ft (2024)
• Kuppu Chetty Street (Kuppa Chetty Street): Rs 1,300 per sq.ft (2024)
• Kuppu Lane: Rs 1,300 per sq.ft (2024)
• Kuresan Street: Rs 2,700 per sq.ft (2024)
• Kumaran Nagar 4th street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaresan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your stamp duty and registration fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaresan Street?

Kumaresan Street is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial figure used during property transactions in Tondaiarpet. It serves as a benchmark for determining the registration fees and stamp duties that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered along with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the correct amounts are collected during the registration process.

Frequently asked questions

What is the current guideline value of Kumaresan Street?

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

How has the guideline value changed over the years?

The guideline value for Kumaresan Street has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. This represents a decline from 2012 to 2017, followed by a significant increase to the current value.

What is the land classification for Kumaresan Street?

Kumaresan Street falls under the Residential Class II Type - I land classification, which is important for determining the appropriate uses and regulations for the property.

What is the registration office for Kumaresan Street?

The registration office that covers Kumaresan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Kumaresan Street?

Stamp duty for properties in Kumaresan Street is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft property at the current guideline value would incur a total of Rs 1,17,000 in fees, including stamp duty and registration fees.