Guideline Value for KUMARAN NAGAR

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Thandurai village under the Avadi SRO, is Rs 988 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has undergone several revisions over the years. In 2002, the value was Rs 77 per sq.ft, which increased significantly to Rs 89 per sq.ft in 2003, marking a change of +16%. The value continued to rise, reaching Rs 386 per sq.ft in 2007, a substantial increase of +334%. By 2012, the value rose to Rs 900 per sq.ft, reflecting a +133% change. However, it then decreased to Rs 603 per sq.ft in 2017, showing a decline of -33%. The value increased again to Rs 900 per sq.ft in 2023, and most recently to Rs 988 per sq.ft in 2024, which is a +10% change.

Overall, from 2002 to 2024, the guideline value has increased by +1183%. There are no figures available for the revisions in years other than those mentioned above.

Guideline values in Thandurai

In Thandurai, there are 331 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,640 per sq.ft. The median value is Rs 988 per sq.ft, which is the same as the guideline value for Kumaran Nagar.

• Kumaran Street (Chozhan Nagar): Rs 988 per sq.ft (2024)
• Kulakkarai St, Railway Northern Side: Rs 988 per sq.ft (2024)
• Kumaran Street (M.T.H.Road North): Rs 988 per sq.ft (2024)
• Kuninjima Nagar 2nd Cross St: Rs 800 per sq.ft (2024)
• Kurinjima Nagar: Rs 988 per sq.ft (2024)
• Kurinjima Nagar 1st Cross St: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 988 per sq.ft, the total guideline value amounts to Rs 9,88,000. The stamp duty at 7% would be Rs 69,160, while the registration fee at 2% would be Rs 19,760, resulting in a total of Rs 88,920. Please 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 more information.

Which Sub Registrar Office covers Kumaran Nagar?

Kumaran Nagar falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thandurai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 988 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 77 per sq.ft in 2002 to Rs 988 per sq.ft in 2024, which represents an overall increase of +1183% over this period.

What is the land classification of Kumaran Nagar?

Kumaran Nagar is classified as Residential Class II Type - I, indicating its designation for residential development.

What are the stamp duty and registration fees for a property in Kumaran Nagar?

For a property valued at Rs 9,88,000, the stamp duty would be Rs 69,160 and the registration fee would be Rs 19,760, totaling Rs 88,920.

Which office handles registrations for Kumaran Nagar?

The Avadi Sub Registrar Office handles registrations for Kumaran Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.