Guideline Value for KUMARI NAGAR

Kumari Nagar guideline value

The current guideline value of Kumari Nagar, located in Iyyappanthangal village under the Chennai South Joint I SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Kumari Nagar has changed

The guideline value for Kumari Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft. This figure increased significantly to Rs 1,800 per sq.ft in 2012, marking a 500% rise. However, in 2017, the value saw a decrease to Rs 1,206 per sq.ft, reflecting a 33% drop. The next revision in 2023 brought the value up to Rs 1,800 per sq.ft, which was a 49% increase. The latest revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, representing a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Kumari Nagar's 2024 figure below that median.

• Kumaran Avenue: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Krishnaveniammal Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Krishnaveniammal Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Krishnaveniammal Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Krishnaveni Ammal Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kumari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total charges Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumari Nagar?

The Sub Registrar Office that covers Kumari Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Iyyappanthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during registration.

When a property is sold, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumari Nagar?

The current guideline value of Kumari Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What are the stamp duty and registration fees for a property in Kumari Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers Kumari Nagar?

Kumari Nagar falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of Kumari Nagar?

Kumari Nagar is classified under Residential Class III Type - I, which indicates its designation for residential use.