Guideline Value for KUMARAN NAGAR "KATTAPOMMAN STREET"

Kumaran Nagar "kattapomman Street" guideline value

The current guideline value of Kumaran Nagar "kattapomman 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 "kattapomman Street" has changed

The guideline value for Kumaran Nagar "kattapomman Street" has seen several revisions over the years. In 2007, the value was set at Rs 1,650 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 112%. However, the value then dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. From 2017 to 2023, the value surged by 49% to reach Rs 3,500 per sq.ft, and finally, in the 2024 revision, it increased to Rs 3,800 per sq.ft, representing a 9% rise.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 130%.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value is Rs 3,800 per sq.ft, which is equal to the guideline value of Kumaran Nagar "kattapomman Street".

• Kumaran Nagar "kambar Street": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar "logamanya Thilagar Street": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar "mahatma Gandhi Road": Rs 4,900 per sq.ft (2024)
• Kumaran Nagar Ext - I "rajaji Street": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar Ext - I "radhakrishnan Street": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar Main Road: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar "kattapomman 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, bringing the total to Rs 3,42,000. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaran Nagar "kattapomman Street"?

The Sub Registrar Office that covers Kumaran Nagar "kattapomman 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 is a crucial factor in the registration process when buying or selling property in Padi. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property transaction occurs, the guideline value is used to determine the payable fees, which can influence the overall cost of the transaction. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,650 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 130% over the years.

What are the stamp duty rates for properties in Kumaran Nagar "kattapomman Street"?

The stamp duty for properties in Kumaran Nagar "kattapomman Street" is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Villivakkam Sub Registrar Office?

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 guideline value determined for properties in Padi?

The guideline value for properties in Padi is determined based on various factors, including the location and type of land classification. It is updated periodically to reflect current market conditions and is used for calculating registration fees and stamp duty.