Guideline Value

Corporate

Guideline Value for KUMARASWAMY NAGAR 1ST MAIN ROAD

₹5500/sq.ft.

The guideline value for Kumaraswamy Nagar 1st Main Road in Villivakkam village (Villivakkam SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Villivakkam

Village

Villivakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Kumaraswamy Nagar 1st Main Road

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Kumaraswamy Nagar 1st Main Road guideline value

The current guideline value of Kumaraswamy Nagar 1st Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village and falls under the Villivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kumaraswamy Nagar 1st Main Road has changed

Looking back at the revisions, the guideline value for Kumaraswamy Nagar 1st Main Road has seen several changes over the years. In 2012, the value was set at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in 2017. However, this value increased significantly to Rs 5,000 per sq.ft in the 2023 revision, and further rose to Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Kumaraswamy Nagar 1st Main Road above this median value.

Stamp duty and registration fee for property in Kumaraswamy Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaraswamy Nagar 1st Main Road?

The Sub Registrar Office that covers Kumaraswamy Nagar 1st Main Road is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Kumaraswamy Nagar 1st Main Road?

The current guideline value for Kumaraswamy Nagar 1st Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Kumaraswamy Nagar 1st Main Road?

Kumaraswamy Nagar 1st Main Road is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Which Sub Registrar Office covers this area?

The Villivakkam Sub Registrar Office covers Kumaraswamy Nagar 1st Main Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000.