Guideline Value for Kumaran Nagar 1st Street

Kumaran Nagar 1st Street guideline value

The current guideline value of Kumaran Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kumaran Nagar 1st Street has changed

The guideline value for Kumaran Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the latest revision in 2024 has seen a significant increase, bringing the guideline value back up to Rs 2,700 per sq.ft, which is a 61% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is the same as the 2024 figure for Kumaran Nagar 1st Street.

• Kumaran Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Kumaran Nagar (Koyyathoppu): Rs 2,700 per sq.ft (2024)
• Kuravar Kudisai: Rs 2,200 per sq.ft (2024)
• Kurinji Nagar Cross Street: Rs 2,700 per sq.ft (2024)
• Krishnan Street (Gandhi Nagar): Rs 2,700 per sq.ft (2024)
• Lakshmi Amman Koil Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kumaran Nagar 1st Street?

The Kumaran Nagar 1st Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark to determine the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kumaran Nagar 1st Street?

The current guideline value of Kumaran Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024.

What is the land classification for Kumaran Nagar 1st Street?

Kumaran Nagar 1st Street is classified as Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Kumaran Nagar 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.