Guideline Value for Kumar Avenue

Kumar Avenue guideline value

The current guideline value of Kumar Avenue in Nanmangalam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This property falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Kumar Avenue has changed

The guideline value for Kumar Avenue has seen significant changes over the years. In 2003, the value was Rs 94 per sq.ft. This increased to Rs 300 per sq.ft in 2007, marking a substantial rise of 219%. The value then surged to Rs 2,500 per sq.ft in 2012, reflecting a remarkable increase of 733%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, which was a decline of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 2,750 per sq.ft, an increase of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 2826%. The register has no figure for Kumar Avenue in 2002.

Guideline values in Nanmangalam

Nanmangalam has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft, with the median being Rs 2,750 per sq.ft. Kumar Avenue's 2024 figure matches this median.

• Lakshmi Nagar: Rs 3,300 per sq.ft (2024)
• Krishna Nagar: Rs 2,750 per sq.ft (2024)
• Kowsalya Nagar: Rs 1,980 per sq.ft (2024)
• Kovalan Street: Rs 1,960 per sq.ft (2024)
• Loganathan Street: Rs 2,750 per sq.ft (2024)
• Kiyyur Nisha Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kumar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumar Avenue?

Kumar Avenue is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the property registration process in Nanmangalam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value serves as a benchmark to ensure that the transaction is recorded at a fair value as per the local regulations.

When selling property, the guideline value can influence the selling price, as it reflects the official valuation set by the government. Buyers and sellers should be aware of the current guideline value to ensure compliance with the registration requirements and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Kumar Avenue?

The current guideline value of Kumar Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Kumar Avenue has increased from Rs 94 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 2826% over this period.

What is the classification of Kumar Avenue?

Kumar Avenue is classified as Residential Class I Type - I under the Pallavaram SRO.

What are the stamp duty and registration fees for a property in Kumar Avenue?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Kumar Avenue located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.