Guideline Value for Kumaran Nagar - S.No.270/2

Kumaran Nagar - S.No.270/2 guideline value

The current guideline value of Kumaran Nagar - S.No.270/2 is Rs 2,310 per sq.ft, effective from 1 July 2024. This property is located in Perungalathur village and falls under the Padappai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kumaran Nagar - S.No.270/2 has changed

The guideline value for Kumaran Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 300 per sq.ft. This increased significantly to Rs 2,100 per sq.ft in 2012, marking a substantial rise of 600%. However, in 2017, the value decreased to Rs 1,407 per sq.ft, which was a drop of 33%. The value then rose again to Rs 2,100 per sq.ft in 2023, and most recently, it has increased to Rs 2,310 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 670%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,310 per sq.ft, which is the same as the current value for Kumaran Nagar.

• Kumarappa Salai: Rs 2,640 per sq.ft (2024)
• Kumaran Nagar: Rs 2,310 per sq.ft (2024)
• Kundu Medu: Rs 1,980 per sq.ft (2024)
• Kurinchi Nagar Saranga Avenue Link Road: Rs 3,960 per sq.ft (2024)
• Kurinji Nagar: Rs 2,970 per sq.ft (2024)
• Kurinji Nagar Extension: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar - S.No.270/2

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Nagar - S.No.270/2?

The Sub Registrar Office that covers Kumaran Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Perungalathur, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it reflects the official valuation set by the government. This ensures transparency and helps in avoiding disputes during the registration process.

Frequently asked questions

What is the current guideline value of Kumaran Nagar - S.No.270/2?

The current guideline value of Kumaran Nagar - S.No.270/2 is Rs 2,310 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 2,310 per sq.ft in 2024, with various increases and decreases in between, including a notable 10% increase from 2023 to 2024.

What is the stamp duty rate for properties in Kumaran Nagar?

The stamp duty rate for properties in Kumaran Nagar is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Kumaran Nagar?

The Padappai Sub Registrar Office handles property registrations for Kumaran Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value for streets in Perungalathur?

The median guideline value for streets in Perungalathur is Rs 2,310 per sq.ft, which is the same as the current guideline value for Kumaran Nagar.