Guideline Value for Tirupur Kumaran Street

Tirupur Kumaran Street guideline value

The current guideline value of Tirupur Kumaran Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village and falls under the Padappai SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Tirupur Kumaran Street has changed

The guideline value for Tirupur Kumaran Street has undergone several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, marking an increase of 800%. However, the value decreased to Rs 2,412 per sq.ft in 2017, a decline of 11%. From 2017 to 2023, the value rose to Rs 3,600 per sq.ft, which is a substantial increase of 49%. The latest revision in 2024 set the guideline value at Rs 3,960 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1220%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft in 2024. The median guideline value for these streets is Rs 2,310 per sq.ft, making Tirupur Kumaran Street's 2024 value above that median.

• Thiyagi Viswanatha das Nagar: Rs 1,650 per sq.ft (2024)
• Thiyagarayar Street: Rs 2,310 per sq.ft (2024)
• Thiru V.K. Street: Rs 2,640 per sq.ft (2024)
• Thiru Venkatapuram: Rs 1,980 per sq.ft (2024)
• Thiruvengada Nagar Church Street: Rs 2,310 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Tirupur Kumaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total cost for these fees to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Tirupur Kumaran Street?

The Sub Registrar Office that covers Tirupur Kumaran Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Perungalathur, as it determines the minimum value at which a property can be sold or purchased. When a property is sold, the registration process requires that the sale price or the guideline value, whichever is higher, is used to calculate the applicable stamp duty and registration fees.

This ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Tirupur Kumaran Street?

The current guideline value of Tirupur Kumaran Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 1220%.

What is the land classification for Tirupur Kumaran Street?

Tirupur Kumaran Street is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

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

The Sub Registrar Office for Tirupur Kumaran Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,77,200.