Guideline Value for KUMARAN NAGAR/ALL PART

Kumaran Nagar/All Part guideline value

The current guideline value of Kumaran Nagar/All Part in Melsingilimedu village is Rs 330 per sq.ft, effective from 1 July 2024. This area falls under the Thiruvottiyur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Kumaran Nagar/All Part has changed

Over the years, the guideline value of Kumaran Nagar/All Part has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2012 to 2024 shows a 10% increase. The 2023 to 2024 revision indicates a 10% increase as well, reflecting a steady upward trend in the guideline value for this street.

Guideline values in Melsingilimedu

In Melsingilimedu, there are 14 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 880 per sq.ft. The median value for these streets is Rs 330 per sq.ft, which is equal to the 2024 figure for Kumaran Nagar/All Part.

• New Power City Part 2: Rs 330 per sq.ft (2024)
• New Star City: Rs 330 per sq.ft (2024)
• Chengundrum Senthil Velavan Nagar Part II: Rs 715 per sq.ft (2024)
• Chengundrum Senthil Velavan Nagar: Rs 715 per sq.ft (2024)
• Sri Kaligambal Avenue: Rs 330 per sq.ft (2024)
• Sri Kaligambal Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar/All Part

For a 1,000 sq.ft plot at the current rate of Rs 330 per sq.ft, the guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaran Nagar/All Part?

The Sub Registrar Office that covers Kumaran Nagar/All Part is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Melsingilimedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling a property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kumaran Nagar/All Part?

The current guideline value of Kumaran Nagar/All Part is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the land classification for Kumaran Nagar/All Part?

Kumaran Nagar/All Part is classified as Commercial Class I Type - I.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Kumaran Nagar/All Part?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 3,30,000 would incur a stamp duty of Rs 23,100.