Guideline Value for KUMARI NAGAR

Kumari Nagar guideline value

The current guideline value of Kumari Nagar, located in Kolumanivakkam village under the Kunrathur SRO, is Rs 1,350 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Kumari Nagar has changed

Over the years, the guideline value for Kumari Nagar has undergone several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,350 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%, while the value rose by 13% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,290 per sq.ft. The median value for these streets is Rs 1,350 per sq.ft, which matches the current guideline value for Kumari Nagar.

• Kuberan Nagar: Rs 1,210 per sq.ft (2024)
• Krishnambal Nagar: Rs 990 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,350 per sq.ft (2024)
• Mahalakshmi Nagar / Annexe: Rs 1,210 per sq.ft (2024)
• Mahalakshmi Nagar Annexe II: Rs 1,350 per sq.ft (2024)
• Mahalakshmi Nagar Annexe III: Rs 2,630 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 1,350 per sq.ft, the total guideline value would be Rs 13,50,000. The stamp duty at 7% would amount to Rs 94,500, and the registration fee at 2% would be Rs 27,000, bringing the total to Rs 1,21,500. Please note that 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 details.

Which Sub Registrar Office covers Kumari Nagar?

Kumari Nagar is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Kolumanivakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling a property, the guideline value will be compared with the sale price. The higher amount will determine the stamp duty applicable, which is essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Kumari Nagar?

The current guideline value of Kumari Nagar is Rs 1,350 per sq.ft, effective from 1 July 2024.

How has the Kumari Nagar guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,350 per sq.ft in 2024.

What is the land classification for Kumari Nagar?

The land classification for Kumari Nagar is Mixed Special Type - I, indicating the nature of development allowed in the area.

What are the stamp duty rates for property in Kumari Nagar?

The stamp duty for property transactions in Kumari Nagar is 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2%.

Where is the Kunrathur SRO located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in Kumari Nagar.