Guideline Value for KUMARASWAMY NAGAR CROSS

Kumaraswamy Nagar Cross guideline value

The current guideline value of Kumaraswamy Nagar Cross is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Villivakkam village under the Villivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Kumaraswamy Nagar Cross has changed

Over the years, the guideline value for Kumaraswamy Nagar Cross has seen several revisions. The 2012 revision set the value at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 5,000 per sq.ft, and the latest revision in 2024 has raised it further to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%, followed by a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Villivakkam

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

• Kumaraswamy Nagar 2nd Main Road: Rs 5,500 per sq.ft (2024)
• Kumaraswamy Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Kumaraswamy Nagar 1st Main Road: Rs 5,500 per sq.ft (2024)
• Kumaraswamy Street: Rs 5,500 per sq.ft (2024)
• Kumaraswamy Nagar: Rs 5,500 per sq.ft (2024)
• Kulakaraistreet (Or) Tank Raod: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaraswamy Nagar Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, totaling 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 Cross?

The Kumaraswamy Nagar Cross falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, please visit find your SRO.

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

The guideline value is an important factor when registering property transactions in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumaraswamy Nagar Cross?

The current guideline value of Kumaraswamy Nagar Cross 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 is now Rs 5,500 per sq.ft in 2024.

What is the land classification of Kumaraswamy Nagar Cross?

Kumaraswamy Nagar Cross is classified as Residential Class III Type - I.

Where can I find the registration office for Kumaraswamy Nagar Cross?

The registration office covering Kumaraswamy Nagar Cross is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kumaraswamy Nagar Cross?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,85,000 at 7%.