Guideline Value for KUMARAN NAGAR "NETHAJI STREET"

Kumaran Nagar "nethaji Street" guideline value

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

The guideline value for Kumaran Nagar "nethaji Street" has seen several revisions over the years. In the 2007 revision, the value was Rs 1,650 per sq.ft, which increased significantly to Rs 3,500 per sq.ft by the 2012 revision. However, it then dropped to Rs 2,345 per sq.ft in the 2017 revision. The value rose sharply to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 3,800 per sq.ft. The register has no figure for this street in 2002 and 2003.

Between the revisions, the changes are notable: from 2007 to 2012, there was an increase of 112%, followed by a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, culminating in a 9% increase from 2023 to 2024. Overall, the guideline value has increased by 130% from 2007 to 2024.

Guideline values in Padi

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

• Kumaran Nagar "n.S.C.Bose Road": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar Main Road: Rs 4,900 per sq.ft (2024)
• Kumaran Nagar "mahatma Gandhi Road": Rs 4,900 per sq.ft (2024)
• Kumaran Nagar "logamanya Thilagar Street": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar "raja Rajan Street": Rs 4,400 per sq.ft (2024)
• Kumaran Nagar " Sardar Patel Street": Rs 3,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, while the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Kumaran Nagar "nethaji Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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 is used to determine the stamp duty and registration fees that need to be paid to the government, ensuring that the transaction is officially recorded.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Kumaran Nagar "nethaji 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 significantly from Rs 1,650 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 130% over this period.

What is the land classification for Kumaran Nagar "nethaji Street"?

The land classification for Kumaran Nagar "nethaji Street" is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Kumaran Nagar "nethaji Street"?

The Sub Registrar Office for Kumaran Nagar "nethaji Street" 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 "nethaji Street"?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at a rate of 7%.