Guideline Value for KUMARAN NAGAR

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Kaniambakkam village under the Ponneri SRO, is Rs 125 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 100 per sq.ft. This value increased by 25% to Rs 125 per sq.ft in the 2023 revision, and remained unchanged in the 2024 revision, maintaining the same rate of Rs 125 per sq.ft.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 25%.

Guideline values in Kaniambakkam

Kumaran Nagar's 2024 guideline value of Rs 125 per sq.ft is above the median value of Rs 100 per sq.ft for the 8 streets in Kaniambakkam under the Ponneri SRO, which range from Rs 100 to Rs 150 per sq.ft. The following are the other streets in Kaniambakkam:

• Gowtham Nagar: Rs 100 per sq.ft (2024)
• Bharathi Nagar: Rs 100 per sq.ft (2024)
• Sai Hari Nagar: Rs 100 per sq.ft (2024)
• Annai Nagar: Rs 150 per sq.ft (2024)
• Sri Balaji Nagar: Rs 100 per sq.ft (2024)
• A.G.R.Garden: Rs 150 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 125 per sq.ft, the total guideline value amounts to Rs 1,25,000. The stamp duty at 7% would be Rs 8,750, and the registration fee at 2% would be Rs 2,500, bringing the total charges to Rs 11,250. It is important to 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 details on fees applicable to your property transaction.

Which Sub Registrar Office covers Kumaran Nagar?

The Sub Registrar Office that covers Kumaran Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kaniambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable to the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the charges reflect the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 125 per sq.ft, effective from 1 July 2024.

How has the Kumaran Nagar guideline value changed over the years?

The guideline value for Kumaran Nagar has increased from Rs 100 per sq.ft in 2017 to Rs 125 per sq.ft in 2023 and 2024, showing a 25% increase overall from 2017 to 2024.

What is the registration office for Kumaran Nagar?

The registration office for Kumaran Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

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

For a property valued at Rs 1,25,000 in Kumaran Nagar, the stamp duty would be Rs 8,750 and the registration fee would be Rs 2,500, totaling Rs 11,250.

What is the land classification for Kumaran Nagar?

Kumaran Nagar is classified as Residential Class I Type - II, indicating its designation for residential purposes within the Kaniambakkam village.