Guideline Value for KUMARASWAMY NAGAR

Kumaraswamy Nagar guideline value

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

How the guideline value of Kumaraswamy Nagar has changed

Since the 2002 revision, the guideline value of Kumaraswamy Nagar has seen significant changes. In 2002, the guideline value was Rs 592 per sq.ft, which increased to Rs 675 per sq.ft in 2003. The value then rose to Rs 1,750 per sq.ft in 2007, marking a substantial increase of 159%. By 2012, the value was Rs 5,000 per sq.ft, reflecting an increase of 186% from the previous revision. However, it decreased to Rs 3,350 per sq.ft in 2017, a reduction of 33%. The value then increased again to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 829%. The register has no figures for the years not listed in this summary.

Guideline values in Villivakkam

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

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

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, leading to a total of 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.

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

Which Sub Registrar Office covers Kumaraswamy Nagar?

The Sub Registrar Office that covers Kumaraswamy Nagar 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 details.

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

When buying or selling property in Villivakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a benchmark for property transactions in the area.

At the time of registration, the stamp duty is calculated 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?

The current guideline value of Kumaraswamy Nagar 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 increased from Rs 592 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 829% over this period.

What are the other streets in Villivakkam with the same guideline value?

Other streets in Villivakkam, such as Kumaraswamy Nagar 1st Main Road, 2nd Main Road, Cross, Main Road, and Street, all have the same guideline value of Rs 5,500 per sq.ft for 2024.

What is the registration fee for property in Kumaraswamy Nagar?

The registration fee for property in Kumaraswamy Nagar is calculated at 2% of the guideline value. For example, for a property valued at Rs 55,00,000, the registration fee would be Rs 1,10,000.

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

The Sub Registrar Office for Kumaraswamy Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more information by visiting the provided link.