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Guideline Value

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Guideline Value for KUMARAN NAGAR " SARDAR PATEL STREET"

₹3800/sq.ft.

The guideline value for Kumaran Nagar " Sardar Patel Street" in Padi village (Villivakkam SRO, Chennai zone) is Rs 3800 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Padi

Village

Villivakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹3800 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1650 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Kumaran Nagar " Sardar Patel Street"

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Kumaran Nagar " Sardar Patel Street" guideline value

The current guideline value for Kumaran Nagar " Sardar Patel Street" is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Padi village and falls under the Villivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kumaran Nagar " Sardar Patel Street" has changed

The guideline value for Kumaran Nagar " Sardar Patel Street" has undergone several revisions over the years. In 2007, the guideline value was Rs 1,650 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value decreased to Rs 2,345 per sq.ft in 2017. Following this, the value saw a substantial increase to Rs 3,500 per sq.ft in 2023, and again rose to Rs 3,800 per sq.ft in 2024, marking a 9% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 130%. The changes between the revisions are notable, with a 112% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017, and a remarkable 49% increase from 2017 to 2023.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, which is equal to the current guideline value for Kumaran Nagar " Sardar Patel Street".

Stamp duty and registration fee for property in Kumaran Nagar " Sardar Patel Street"

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to 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 Kumaran Nagar " Sardar Patel Street"?

The Sub Registrar Office that covers Kumaran Nagar " Sardar Patel Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Padi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumaran Nagar " Sardar Patel Street"?

The current guideline value of Kumaran Nagar " Sardar Patel Street" is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen several revisions, increasing from Rs 1,650 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, which is a total increase of 130%.

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

Other streets in Padi include Kumaran Nagar "raja Rajan Street" at Rs 4,400 per sq.ft, and several streets at Rs 3,800 per sq.ft, such as "thilagar Street", "thiruvalluvar Street", "n.S.C.Bose Road", and "nethaji Street".

Where is the Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Kumaran Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.