Guideline Value for KUMARAN NAGAR MAIN ROAD

Kumaran Nagar Main Road guideline value

The current guideline value of Kumaran Nagar Main Road is Rs 1,300 per sq.ft, effective from 1 July 2024. This road is located in Vengathur village and falls under the Manavalanagar SRO, classified as Commercial Class I Type - III.

How the guideline value of Kumaran Nagar Main Road has changed

Over the years, the guideline value for Kumaran Nagar Main Road has undergone several revisions. The earliest recorded figure is from 2007, where it was Rs 150 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 767%. However, from 2012 to 2017, the value decreased by 33% to Rs 871 per sq.ft. The subsequent revisions saw the value rise again, reaching Rs 1,300 per sq.ft in both 2023 and 2024, with no change from 2023 to 2024.

The register has no figures for the years 2002 and 2003 for this street. From 2017 to 2023, the value rose by 49%, highlighting the fluctuations in the guideline value over the years. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value of Kumaran Nagar Main Road is above this median, reflecting its significance within the village.

• Kumaran Street: Rs 700 per sq.ft (2024)
• Kumanan Street: Rs 1,300 per sq.ft (2024)
• Kuppuswamy Nagar: Rs 1,300 per sq.ft (2024)
• Kurungi Street: Rs 600 per sq.ft (2024)
• Kuruvayur Steet: Rs 600 per sq.ft (2024)
• Kutti Mani Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, these fees total Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Nagar Main Road?

The Sub Registrar Office that covers Kumaran Nagar Main Road is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and in accordance with local regulations.

Frequently asked questions

What is the current guideline value of Kumaran Nagar Main Road?

The current guideline value of Kumaran Nagar Main Road is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012. It has remained at Rs 1,300 per sq.ft in 2023 and 2024, with a significant increase of 767% overall from 2007 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Kumaran Nagar Main Road?

The Manavalanagar Sub Registrar Office handles property registrations for Kumaran Nagar Main Road, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is essential for calculating the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and complies with local regulations.