Guideline Value for Kushkumar Road

Kushkumar Road guideline value

The current guideline value of Kushkumar Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Kushkumar Road has changed

The guideline value for Kushkumar Road has seen several revisions over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, it dropped to Rs 5,360 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 8,000 per sq.ft, and the most recent revision in 2024 set it at Rs 8,800 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes were notable. The value increased by 167% from 2007 to 2012, but then saw a decrease of 33% from 2012 to 2017. From 2017 to 2023, there was a significant increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 193%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, which is the same as the guideline value for Kushkumar Road.

• Kutty Street: Rs 7,700 per sq.ft (2024)
• Lady Madhavan Road: Rs 9,900 per sq.ft (2024)
• Lake Area 1st Cross Street: Rs 8,800 per sq.ft (2024)
• Lake Area 2nd Cross Street: Rs 8,800 per sq.ft (2024)
• Lake Area 3rd Cross Street: Rs 8,800 per sq.ft (2024)
• Lake Area 4th Cross Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kushkumar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees to Rs 7,92,000. It's 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 more detailed calculations.

Which Sub Registrar Office covers Kushkumar Road?

The Sub Registrar Office that covers Kushkumar Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kushkumar Road?

The current guideline value of Kushkumar Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What are the other streets with guideline values in Nungambakkam?

Other streets in Nungambakkam include Kutty Street at Rs 7,700 per sq.ft, Lady Madhavan Road at Rs 9,900 per sq.ft, and several streets in Lake Area at Rs 8,800 per sq.ft.

What fees are associated with buying property on Kushkumar Road?

When buying property on Kushkumar Road, you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kushkumar Road?

The Sub Registrar Office for Kushkumar Road is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.