Guideline Value for KUMARAN NAGAR

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Palliyaraikuppam village and falls under the Tiruvallur Joint 1 SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 400 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft. The value then increased significantly by 49% to Rs 400 per sq.ft in the 2023 revision, which has remained the same in the 2024 revision, indicating no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the figures from 2012 to 2024, the guideline value has not changed, remaining at Rs 400 per sq.ft.

Guideline values in Palliyaraikuppam

Within Palliyaraikuppam village, there are 10 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 900 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Kumaran Nagar is above this median.

• J.J. Nagar: Rs 400 per sq.ft (2024)
• I.C.F. Nagar & Annex: Rs 200 per sq.ft (2024)
• Gothavari Nagar: Rs 200 per sq.ft (2024)
• Balaji Nagar & Ext: Rs 200 per sq.ft (2024)
• Sarojammal Nagar: Rs 400 per sq.ft (2024)
• Thiruttanigai Nagar & Ext: Rs 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 rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that 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?

The Sub Registrar Office that covers Kumaran Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Palliyaraikuppam. It is used to calculate the stamp duty and registration fees that buyers need to pay when purchasing property. This ensures that the transaction is officially recorded and that the necessary taxes are collected by the government.

When selling property, the guideline value helps determine the minimum price at which a property can be sold. It serves as a benchmark for both buyers and sellers, ensuring transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023 and remained the same in 2024.

What is the land classification of Kumaran Nagar?

Kumaran Nagar is classified as Residential Special Type - II.

What are the stamp duty rates for property in Kumaran Nagar?

The stamp duty for property in Kumaran Nagar is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Kumaran Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations for Kumaran Nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.