Guideline Value for KUMARAN NAGAR 1ST STREET (APPROVED)

Kumaran Nagar 1st Street (Approved) guideline value

The current guideline value of Kumaran Nagar 1st Street (Approved) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kumaran Nagar 1st Street (Approved) has changed

The guideline value for Kumaran Nagar 1st Street (Approved) has undergone several revisions over the years. The 2017 revision set the guideline value at Rs 2,010 per sq.ft. Following this, the 2024 revision increased the value to Rs 3,300 per sq.ft, marking a significant change of +64% since the last revision.

There are no figures available for the revisions in the years 2023, 2012, 2007, 2003, and 2002 for this street. Therefore, the only relevant figures for Kumaran Nagar 1st Street (Approved) are from the 2017 and 2024 revisions.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value of Kumaran Nagar 1st Street (Approved) is above this median.

• KUMARAN NAGAR 2nd CROSS STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 1st MAIN ROAD: Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 2nd MAIN ROAD: Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 1st CROSS STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 3rd CROSS STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 5th CROSS STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar 1st Street (Approved)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost together to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Nagar 1st Street (Approved)?

The Sub Registrar Office that covers Kumaran Nagar 1st Street (Approved) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in property transactions within Sholinganallur - 1. It serves as a reference point for determining the stamp duty and registration fees when buying or selling property in the area. Buyers and sellers must be aware of the guideline value to ensure they comply with legal requirements and accurately calculate their expenses.

When a property is registered, the guideline value is compared to the sale price. The higher of the two will be used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Kumaran Nagar 1st Street (Approved)?

The current guideline value of Kumaran Nagar 1st Street (Approved) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, which is a change of +64%.

What is the land classification for Kumaran Nagar 1st Street (Approved)?

The land classification for Kumaran Nagar 1st Street (Approved) is Residential Class II Type - I.

What are the other streets in Sholinganallur - 1 with the same guideline value?

Other streets in Sholinganallur - 1 that carry the same guideline value of Rs 3,300 per sq.ft include KUMARAN NAGAR 2nd CROSS STREET, KUMARAN NAGAR 1st MAIN ROAD, KUMARAN NAGAR 2nd MAIN ROAD, KUMARAN NAGAR 1st CROSS STREET, KUMARAN NAGAR 3rd CROSS STREET, and KUMARAN NAGAR 5th CROSS STREET.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.