Guideline Value for Thiruppur Kumaran Street (Near Somasundaram Street)

Thiruppur Kumaran Street (Near Somasundaram Street) guideline value

The current guideline value of Thiruppur Kumaran Street (Near Somasundaram Street) is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thiruppur Kumaran Street (Near Somasundaram Street) has changed

The guideline value for Thiruppur Kumaran Street has undergone several revisions over the years. In 2003, the value was Rs 554 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 81%. The value remained unchanged at Rs 2,500 per sq.ft from 2012 until the 2023 revision. In 2024, the guideline value was revised to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002 and 2017 for this street. The overall change from 2003 to 2024 shows an increase of 396%, highlighting the substantial growth in the guideline value over the years.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median guideline value for the village is Rs 3,300 per sq.ft, placing Thiruppur Kumaran Street's 2024 value below this median.

• Thiruppur Kumaran Street (Radha Nagar Main Road Southside): Rs 2,750 per sq.ft (2024)
• Thirutani Nagar 1 To 3 Main Road: Rs 3,300 per sq.ft (2024)
• Thirutani Nagar, Kauvery Street: Rs 3,300 per sq.ft (2024)
• Thirutani Nagar, Vaigai Street: Rs 3,300 per sq.ft (2024)
• Thirutani Nagar, Yamuna Street: Rs 3,300 per sq.ft (2024)
• Thirupathi Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruppur Kumaran Street (Near Somasundaram Street)

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

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruppur Kumaran Street (Near Somasundaram Street)?

The Thiruppur Kumaran Street (Near Somasundaram Street) falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Thiruppur Kumaran Street?

The current guideline value of Thiruppur Kumaran Street (Near Somasundaram Street) 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 changed from Rs 554 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting a total increase of 396% over the years.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registration in this area?

The Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone, handles property registration for Thiruppur Kumaran Street.

What is the land classification for Thiruppur Kumaran Street?

The land classification for Thiruppur Kumaran Street is Residential Class II Type - I, indicating its suitability for residential development.