Guideline Value for Kumuzhi Thottam

Kumuzhi Thottam guideline value

The current guideline value for Kumuzhi Thottam is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kumuzhi Thottam has changed

The guideline value for Kumuzhi Thottam has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, representing a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 3,100 per sq.ft, indicating that Kumuzhi Thottam's 2024 figure is below this median.

• Kumaran Street: Rs 2,750 per sq.ft (2024)
• Kuppuswamy Padmavathi Nagar: Rs 2,750 per sq.ft (2024)
• Kurinchi Nagar 1st Main Road: Rs 3,550 per sq.ft (2024)
• Kurinchi Nagar 1st To 5th Cross Street: Rs 3,550 per sq.ft (2024)
• Kurinchi Nagar 2nd Main Road: Rs 3,550 per sq.ft (2024)
• Kurinji Nagar 1st & 2nd Lane: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Kumuzhi Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumuzhi Thottam?

The Sub Registrar Office that covers Kumuzhi Thottam is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When you register a property, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumuzhi Thottam?

The current guideline value of Kumuzhi Thottam is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 2,500 per sq.ft in 2012, Rs 1,675 per sq.ft in 2017, Rs 2,500 per sq.ft in 2023, and Rs 2,750 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What are the stamp duty and registration fees for property in Kumuzhi Thottam?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. The duty is based on the higher of the guideline value or the sale price.

Which office handles property registrations in Kumuzhi Thottam?

The Chennai South Joint II Sub Registrar Office handles property registrations in Kumuzhi Thottam. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Kumuzhi Thottam?

Kumuzhi Thottam is classified as Residential Class II Type - II. This classification is important for understanding the permissible uses of the land in this area.