Guideline Value for KUMARASWAMY NAGAR MAIN ROAD

Kumaraswamy Nagar Main Road guideline value

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

How the guideline value of Kumaraswamy Nagar Main Road has changed

Over the years, the guideline value for Kumaraswamy Nagar Main Road has seen several revisions. The earliest recorded figure is from 2012, when it was Rs 5,000 per sq.ft. This was followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then increased significantly to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. The changes between these revisions include a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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, positioning Kumaraswamy Nagar Main Road's 2024 figure above this median.

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

Stamp duty and registration fee for property in Kumaraswamy Nagar 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 would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and 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 and the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kumaraswamy Nagar Main Road?

The Kumaraswamy Nagar Main Road falls under 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 details.

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

The guideline value plays a crucial role when buying or selling property in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the buyer typically pays stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumaraswamy Nagar Main Road?

The current guideline value of Kumaraswamy Nagar 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 to Rs 5,000 per sq.ft in 2023, and is currently Rs 5,500 per sq.ft in 2024.

What is the median guideline value in Villivakkam?

The median guideline value for streets in Villivakkam is Rs 4,900 per sq.ft, with Kumaraswamy Nagar Main Road's 2024 figure being above this median.

Where can I find the Sub Registrar Office for Kumaraswamy Nagar Main Road?

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

How is the stamp duty calculated for properties in Kumaraswamy Nagar Main Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current rate would incur a stamp duty of Rs 3,85,000.