Guideline Value for KUMARAN NAGAR

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Thirupachur village under the Tiruvallur Joint 1 SRO, is Rs 400 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Kumaran Nagar has changed

Looking back at the revisions, the guideline value for Kumaran Nagar has seen several changes over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 400 per sq.ft. The 2017 revision marked a significant increase to Rs 268 per sq.ft, reflecting a 49% increase from the previous revision. However, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from the 2012 revision to the current 2024 revision, the guideline value has remained constant at Rs 400 per sq.ft. This indicates that while there were fluctuations in earlier years, the value has stabilized in recent revisions.

Guideline values in Thirupachur

In Thirupachur village, there are 19 streets under the Tiruvallur Joint 1 SRO carrying a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 550 per sq.ft. Kumaran Nagar's 2024 figure is below this median.

• Kottai Colony: Rs 300 per sq.ft (2024)
• Kosa street: Rs 550 per sq.ft (2024)
• Manthoppu street: Rs 550 per sq.ft (2024)
• Mettu street: Rs 1,500 per sq.ft (2024)
• Kadai street: Rs 1,000 per sq.ft (2024)
• J. J.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 400 per sq.ft, the total guideline value would be 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 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 on fees applicable to your property transaction.

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 further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Thirupachur. It is used to calculate the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is determined by the government and is updated periodically to reflect changes in the real estate market.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

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 as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

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

For a 1,000 sq.ft property at the guideline value of Rs 400 per sq.ft, the total guideline value is Rs 4,00,000. The stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which Sub Registrar Office covers Kumaran Nagar?

Kumaran Nagar is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the land classification for Kumaran Nagar?

Kumaran Nagar falls under the Residential Class III Type - I land classification, which is designated for residential purposes.