Guideline Value for Kumaran Nagar 1st street

Kumaran Nagar 1st street guideline value

The current guideline value of Kumaran Nagar 1st street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

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

The guideline value for Kumaran Nagar 1st street has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, in the 2017 revision, the value dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw a significant increase to Rs 1,200 per sq.ft, and the latest revision in 2024 set the value at Rs 1,300 per sq.ft, an increase of 8% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%. It is important to note that the register has no figures for Kumaran Nagar 1st street for the years 2002 and 2003.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO, with a 2024 guideline value range from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Kumaran Nagar 1st street's value below this median.

• Kumaran Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Kumaran Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Kumaran Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Kumarappan Street: Rs 1,300 per sq.ft (2024)
• Kumarasamy Lane: Rs 1,300 per sq.ft (2024)
• Kumaresan Street: Rs 1,300 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 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Nagar 1st street?

The Sub Registrar Office that covers Kumaran Nagar 1st street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price as set by the local authorities.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall costs associated with property registration. Understanding these values can help in making informed decisions during the transaction process.

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 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What is the registration office for Kumaran Nagar 1st street?

The registration office for Kumaran Nagar 1st street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 91,000.

What is the median guideline value in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, which is higher than the current value of Kumaran Nagar 1st street.