Guideline Value for KUMARAN NAGAR "THILAGAR STREET"

Kumaran Nagar "thilagar Street" guideline value

The current guideline value of Kumaran Nagar "thilagar Street" is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kumaran Nagar "thilagar Street" has changed

The guideline value for Kumaran Nagar "thilagar Street" has seen several revisions over the years. In 2007, the guideline value was Rs 1,650 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, it then dropped to Rs 2,345 per sq.ft in 2017. Following this, the value rose significantly to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,800 per sq.ft from the 2024 revision. Notably, there are no figures available for this street in the 2002 and 2003 revisions.

The changes between these revisions 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, and increased by 9% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 130%.

Guideline values in Padi

In Padi, the guideline values vary across 354 streets under the Villivakkam SRO, with figures 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 current guideline value of Kumaran Nagar "thilagar Street".

• Kumaran Nagar "thiruvalluvar Street": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar " Sardar Patel Street": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar "raja Rajan Street": Rs 4,400 per sq.ft (2024)
• Kumaran Nagar "n.S.C.Bose Road": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar "nethaji 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 "thilagar Street"

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty, charged at 7%, would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, these fees total 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 the stamp duty and registration fee calculator for more precise calculations.

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

The Sub Registrar Office that covers Kumaran Nagar "thilagar 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 more information.

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

The guideline value plays a crucial role during the registration of property transactions in Padi. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is in compliance with government regulations.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Accurate knowledge of these values helps in making informed decisions during property dealings.

Frequently asked questions

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

The current guideline value of Kumaran Nagar "thilagar 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, showing an overall increase of 130% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Kumaran Nagar "thilagar Street"?

The Villivakkam Sub Registrar Office handles registrations for Kumaran Nagar "thilagar Street", located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

Kumaran Nagar "thilagar Street" is classified as Residential Class IV Type - I.