Guideline Value for KUMARAN NAGAR EXT - I "KAMARAJ STREET"

Kumaran Nagar Ext - I "kamaraj Street" guideline value

The current guideline value of Kumaran Nagar Ext - I "kamaraj 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 Ext - I "kamaraj Street" has changed

The guideline value for Kumaran Nagar Ext - I "kamaraj Street" has undergone 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. However, it then decreased to Rs 2,345 per sq.ft in 2017. The value saw a substantial rise to Rs 3,500 per sq.ft in 2023, followed by another increase to the current rate of Rs 3,800 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 was 9%. Overall, from 2007 to 2024, the guideline value has increased by 130%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value among these streets is Rs 3,800 per sq.ft, which is the same as the guideline value for Kumaran Nagar Ext - I "kamaraj Street".

• Kumaran Nagar Ext - II "vasantham Street": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar Ext - I "kambar Street": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar Ext - II "thiru.VI.Ka.Street": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar Ext - I "nehru Street": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar Ext - II "thendral Street": Rs 3,800 per sq.ft (2024)
• Kumaran Nagar Ext - I "radhakrishnan Street": Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar Ext - I "kamaraj 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, and the registration fee at 2% would be Rs 76,000, making the total cost for these fees 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 Ext - I "kamaraj Street"?

The Sub Registrar Office that covers Kumaran Nagar Ext - I "kamaraj Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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 payable at the time of registration. Buyers should be aware that the guideline value is a reference point for property transactions, ensuring that the property is registered at a fair value.

When a property is sold, the seller must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. This ensures transparency and accountability in property transactions, protecting both buyers and sellers.

Frequently asked questions

What is the current guideline value of Kumaran Nagar Ext - I "kamaraj Street"?

The current guideline value of Kumaran Nagar Ext - I "kamaraj 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 multiple times, starting from Rs 1,650 per sq.ft in 2007, increasing to Rs 3,500 in 2012, dropping to Rs 2,345 in 2017, then rising to Rs 3,500 in 2023, and finally reaching Rs 3,800 in 2024.

What are the other streets in Padi with the same guideline value?

Other streets in Padi that share the same guideline value of Rs 3,800 per sq.ft include Kumaran Nagar Ext - II "vasantham Street", Kumaran Nagar Ext - I "kambar Street", Kumaran Nagar Ext - II "thiru.VI.Ka.Street", Kumaran Nagar Ext - I "nehru Street", Kumaran Nagar Ext - II "thendral Street", and Kumaran Nagar Ext - I "radhakrishnan Street".

Where is the Villivakkam 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 stamp duty calculated for properties in Kumaran Nagar Ext - I "kamaraj 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 at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000.