Guideline Value for KUMARAN STREEET / N.G.O.NAGAR

Kumaran Streeet / N.G.O.Nagar guideline value

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

How the guideline value of Kumaran Streeet / N.G.O.Nagar has changed

The guideline value for Kumaran Streeet / N.G.O.Nagar has undergone significant changes in recent years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 300 per sq.ft, which saw a substantial increase to Rs 700 per sq.ft in the 2024 revision, marking a change of +133%.

This current figure of Rs 700 per sq.ft aligns with the median guideline value of Rs 700 per sq.ft for 120 streets in Ponneri under the Ponneri SRO, which range from Rs 201 to Rs 1,200 per sq.ft.

Guideline values in Ponneri

The guideline values in Ponneri reflect a range of prices across various streets. Kumaran Streeet / N.G.O.Nagar's 2024 figure of Rs 700 per sq.ft is equal to the median value in the area. Here are some other streets in Ponneri:

• Kumaran 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 Streeet / N.G.O.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value is Rs 7,00,000. The stamp duty, charged at 7%, amounts to Rs 49,000, while the registration fee at 2% is Rs 14,000, bringing the total cost 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Streeet / N.G.O.Nagar?

The Sub Registrar Office that covers Kumaran Streeet / N.G.O.Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for further assistance.

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 reference point 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 stamp duty. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kumaran Streeet / N.G.O.Nagar?

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

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

The guideline value changed from Rs 300 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, reflecting an increase of +133%.

What is the land classification for Kumaran Streeet / N.G.O.Nagar?

Kumaran Streeet / N.G.O.Nagar is classified as Residential Class II Type - I.

Which Sub Registrar Office covers Kumaran Streeet / N.G.O.Nagar?

The Ponneri Sub Registrar Office covers Kumaran Streeet / N.G.O.Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for property in Kumaran Streeet / N.G.O.Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.