Guideline Value for THIRUPUR KUMARAN STREET

Thirupur Kumaran Street guideline value

The current guideline value of Thirupur Kumaran Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Thirupur Kumaran Street has changed

The guideline value for Thirupur Kumaran Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the Rs 1,340 per sq.ft recorded in the 2017 revision. The 2023 revision increased the value to Rs 2,000 per sq.ft, and in the latest 2024 revision, it rose by 10% to Rs 2,200 per sq.ft.

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

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which matches the current guideline value of Thirupur Kumaran Street.

• Thiruppur Kumaran Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,750 per sq.ft (2024)
• Thiruveethi Amman Koil Street: Rs 1,540 per sq.ft (2024)
• Thiruvengadam Nagar: Rs 2,750 per sq.ft (2024)
• Thiruvengadam Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Thiruvengadam Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupur Kumaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Thirupur Kumaran Street?

The Sub Registrar Office that covers Thirupur Kumaran Street is the Chennai South Joint I 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 Medavakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Medavakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Additionally, the guideline value ensures that property transactions are conducted fairly and transparently. It provides a standardized measure for property valuation, helping to avoid disputes and discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thirupur Kumaran Street?

The current guideline value of Thirupur Kumaran Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What are the other streets in Medavakkam with their guideline values?

Other streets in Medavakkam include Thiruvalluvar Street at Rs 2,750 per sq.ft, Thiruveethi Amman Koil Street at Rs 1,540 per sq.ft, and several streets in Thiruvengadam Nagar, all at Rs 2,750 per sq.ft.

Where can I find the Sub Registrar Office for Thirupur Kumaran Street?

The Sub Registrar Office for Thirupur Kumaran Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Thirupur Kumaran Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.