Guideline Value for Kumaran Nagar 2nd Street

Kumaran Nagar 2nd Street guideline value

The current guideline value of Kumaran Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class II Type - I.

How the guideline value of Kumaran Nagar 2nd Street has changed

The guideline value for Kumaran Nagar 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 624 per sq.ft, which increased to Rs 700 per sq.ft in 2003, marking a 12% rise. By 2007, the value surged to Rs 1,000 per sq.ft, reflecting a 43% increase. The next revision in 2012 saw the value rise to Rs 4,000 per sq.ft, a significant 300% increase. However, in 2017, the value dropped to Rs 2,680 per sq.ft, reflecting a 33% decrease. The guideline value then increased to Rs 4,000 per sq.ft in 2023, followed by the latest revision to Rs 4,400 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 605%. There are no figures available for the revisions in years not mentioned for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Kumaran Nagar 2nd Street's 2024 figure below that median.

• Kumaran Nagar 2nd Street (SlumBoard Allotment): Rs 3,300 per sq.ft (2024)
• Kumaran Nagar 3 Rd Street: Rs 4,400 per sq.ft (2024)
• Kumaran Nagar Ist Street: Rs 3,300 per sq.ft (2024)
• Kumaran Nagar Ist Street (SlumBoard Allotment): Rs 3,300 per sq.ft (2024)
• Kumaran Nagar SlumBoard Allotment: Rs 3,300 per sq.ft (2024)
• Kunjitham Gurusamy Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that 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 2nd Street?

The Sub Registrar Office that covers Kumaran Nagar 2nd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Ayanavaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kumaran Nagar 2nd Street?

The current guideline value of Kumaran Nagar 2nd Street is Rs 4,400 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 624 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 605% over the years.

What are the stamp duty and registration fees for properties in Kumaran Nagar 2nd Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Kumaran Nagar 2nd Street?

The AnnaNagar Sub Registrar Office covers Kumaran Nagar 2nd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for determining the minimum registration price of a property. It also helps in calculating the stamp duty and registration fees that must be paid during the transaction.