Guideline Value for Kummalamman Koil street

Kummalamman Koil street guideline value

The current guideline value of Kummalamman Koil street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Kummalamman Koil street has changed

Over the years, the guideline value of Kummalamman Koil street has seen significant changes. In 2002, the guideline value was Rs 477 per sq.ft. It increased to Rs 526 per sq.ft in 2003, marking a 10% rise. The value then surged to Rs 1,800 per sq.ft in 2007, reflecting a 242% increase. Following this, it reached Rs 6,500 per sq.ft in 2012, which was a 261% jump. However, it dropped to Rs 4,355 per sq.ft in 2017, showing a decrease of 33%. The value saw a remarkable increase to Rs 6,500 per sq.ft again in 2023, which was a 49% rise. Finally, the current guideline value stands at Rs 7,100 per sq.ft as of the 2024 revision, representing a 9% increase from the previous year.

There are no figures available for the revisions in years other than those specified. The overall change from 2002 to 2024 is an impressive increase of 1388%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the guideline value for Kummalamman Koil street.

• Kuppusamy Avenue Road: Rs 11,000 per sq.ft (2024)
• Kuppusamy Naidu Street: Rs 7,100 per sq.ft (2024)
• Labbai Street: Rs 3,900 per sq.ft (2024)
• Lakshmi Street: Rs 11,000 per sq.ft (2024)
• Laksminarayana Perumal Koil Street: Rs 8,300 per sq.ft (2024)
• Lamech Avenue: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kummalamman Koil street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total charges Rs 6,39,000. 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 accurate calculations.

Which Sub Registrar Office covers Kummalamman Koil street?

The Kummalamman Koil street falls under the jurisdiction of the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that both the government and the buyer are protected in the transaction.

Frequently asked questions

What is the current guideline value of Kummalamman Koil street?

The current guideline value of Kummalamman Koil street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 477 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 1388%.

What is the land classification for Kummalamman Koil street?

Kummalamman Koil street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Kummalamman Koil street?

The Sub Registrar Office covering Kummalamman Koil street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000.