Guideline Value for KUMARAN NAGAR

Kumaran Nagar guideline value

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

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen significant changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 300 per sq.ft, which rose to Rs 700 per sq.ft in the 2024 revision, marking an increase of 133%.

Prior to the 2023 revision, there were no recorded figures for this street. The 2024 revision brings the Kumaran Nagar guideline value in line with the median value of Rs 700 per sq.ft for the 120 streets in Ponneri under the Ponneri SRO.

Guideline values in Ponneri

Ponneri village has a range of guideline values for various streets, with the lowest at Rs 201 per sq.ft and the highest at Rs 1,200 per sq.ft. The Kumaran Nagar guideline value of Rs 700 per sq.ft is equal to the median value for the area.

• Kumaran Streeet / N.G.O.Nagar: Rs 700 per sq.ft (2024)
• Krishnaswami Mudali Street: Rs 1,200 per sq.ft (2024)
• Lakshmi Amman Kovil Street: Rs 700 per sq.ft (2024)
• Lakshmi Amman Nagar: Rs 201 per sq.ft (2024)
• Lakshmi Nagar: Rs 700 per sq.ft (2024)
• Madhina Palli Vasal: Rs 1,200 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. 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 detailed calculations.

Which Sub Registrar Office covers Kumaran Nagar?

The Kumaran Nagar area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ponneri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate amount based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

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

How much has the guideline value changed recently?

In the 2024 revision, the guideline value increased from Rs 300 per sq.ft in 2023 to Rs 700 per sq.ft, marking a change of 133%.

What are the other guideline values in Ponneri?

Ponneri has a range of guideline values from Rs 201 to Rs 1,200 per sq.ft. The median value for the area is Rs 700 per sq.ft, which is the same as the Kumaran Nagar guideline value.

What fees are associated with property registration in Kumaran Nagar?

When registering property in Kumaran Nagar, the stamp duty is 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Kumaran Nagar?

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