Guideline Value for KUMARAN NAGAR

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 800 per sq.ft, effective from the 2024 revision. This area is located in Thachoor_2 village under the Ponneri SRO and is classified as Residential Class I Type - I.

How the guideline value of Kumaran Nagar has changed

Over the years, the guideline value for Kumaran Nagar has seen significant changes. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 200 per sq.ft, which was a notable increase from the previous revisions. The most recent revision in 2024 raised the guideline value to Rs 800 per sq.ft, marking a substantial increase of 300% from the 2023 figure.

Guideline values in Thachoor_2

In Thachoor_2, there are 40 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 202 to Rs 1,800 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, placing Kumaran Nagar's 2024 figure above this median.

• Lakshmi Avenue: Rs 400 per sq.ft (2024)
• K.P.K. Nagar: Rs 202 per sq.ft (2024)
• Kandan Nagar: Rs 800 per sq.ft (2024)
• M.V.M. Nagar: Rs 1,195 per sq.ft (2024)
• Jai Nagar: Rs 600 per sq.ft (2024)
• Illaihi Nagar: Rs 400 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 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaran Nagar?

Kumaran Nagar falls under 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 Thachoor_2

The guideline value is a crucial factor when registering property transactions in Thachoor_2. It serves as the basis for calculating stamp duty and registration fees, ensuring that all transactions are in accordance with the state's regulations.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency in property transactions and helps prevent undervaluation of properties.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 800 per sq.ft, effective from July 1, 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 300% from Rs 200 per sq.ft in 2023 to Rs 800 per sq.ft in 2024.

What is the land classification of Kumaran Nagar?

Kumaran Nagar is classified as Residential Class I Type - I.

Where can I find the Ponneri Sub Registrar Office?

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

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It acts as the minimum price for registration, ensuring that properties are valued appropriately.