Guideline Value for KUMARAN NAGAR MAYANA PATHAI

Kumaran Nagar Mayana Pathai guideline value

The current guideline value of Kumaran Nagar Mayana Pathai is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in the Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Kumaran Nagar Mayana Pathai has changed

Over the years, the guideline value for Kumaran Nagar Mayana Pathai has seen several revisions. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 1,500 per sq.ft, which was an increase from the previous figures. The most recent 2024 revision raised the guideline value to Rs 1,700 per sq.ft, reflecting a change of +13% from the 2023 figure.

In summary, the guideline value has increased from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024. This increase is part of the ongoing adjustments made by the Registration Department to reflect current market conditions.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Kumaran Nagar Mayana Pathai's 2024 figure below this median.

• Kumaran Nagar (Approved): Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 7th CROSS STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 6th CROSS STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 5th CROSS STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 3rd CROSS STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 2nd MAIN ROAD: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar Mayana Pathai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000. Together, the total cost for stamp duty and registration would be Rs 1,53,000. 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 further calculations.

Which Sub Registrar Office covers Kumaran Nagar Mayana Pathai?

The Sub Registrar Office that covers Kumaran Nagar Mayana Pathai 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 is a crucial factor during the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that all transactions are transparent and comply with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Kumaran Nagar Mayana Pathai?

The current guideline value of Kumaran Nagar Mayana Pathai is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision, which set the guideline value at Rs 1,500 per sq.ft, there has been an increase of 13% to reach the current value of Rs 1,700 per sq.ft in 2024.

What is the land classification of Kumaran Nagar Mayana Pathai?

Kumaran Nagar Mayana Pathai is classified as Residential Class IV Type - I, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

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

How is stamp duty calculated for properties in Kumaran Nagar Mayana Pathai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,19,000.