Guideline Value for Kumaran Nagar 2nd Street (SlumBoard Allotment)

Kumaran Nagar 2nd Street (SlumBoard Allotment) guideline value

The current guideline value of Kumaran Nagar 2nd Street (SlumBoard Allotment) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village under the AnnaNagar SRO, classified as Residential Class II Type - II.

How the guideline value of Kumaran Nagar 2nd Street (SlumBoard Allotment) has changed

The guideline value for Kumaran Nagar 2nd Street (SlumBoard Allotment) has seen several revisions over the years. The 2003 revision set the value at Rs 700 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2012, but then dropped to Rs 2,010 per sq.ft in 2017. The value increased again to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 3,300 per sq.ft. The register has no figure for this street in 2002.

Between the revisions, the changes were as follows: from 2003 to 2007, there was an increase of 43%; from 2007 to 2012, a decrease of 33%; from 2012 to 2017, a significant drop of 49%; an increase of 49% was noted from 2017 to 2023; and finally, a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 371% from 2003 to 2024.

Guideline values in Ayanavaram

Ayanavaram village features 369 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Kumaran Nagar 2nd Street (SlumBoard Allotment) below this median.

• Kumaran Nagar 2nd Street: Rs 4,400 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 (SlumBoard Allotment)

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaran Nagar 2nd Street (SlumBoard Allotment)?

The Sub Registrar Office that covers Kumaran Nagar 2nd Street (SlumBoard Allotment) 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 a crucial factor in property transactions, as it serves as a benchmark for determining the value of a property during registration. When buying or selling property in Ayanavaram, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

It is essential for buyers and sellers to be informed about the current guideline value, as it affects the overall cost of the transaction. The guideline value is updated periodically, reflecting changes in the real estate market and land use classifications.

Frequently asked questions

What is the current guideline value of Kumaran Nagar 2nd Street (SlumBoard Allotment)?

The current guideline value of Kumaran Nagar 2nd Street (SlumBoard Allotment) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, with various increases and decreases in between. The most significant increase was from 2012 to 2017, where it dropped by 33%, and the most recent increase was 10% from 2023 to 2024.

What is the registration office for Kumaran Nagar 2nd Street (SlumBoard Allotment)?

The registration office for Kumaran Nagar 2nd Street (SlumBoard Allotment) is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are based on the guideline value or the sale price, whichever is higher.

What is the land classification for Kumaran Nagar 2nd Street (SlumBoard Allotment)?

Kumaran Nagar 2nd Street (SlumBoard Allotment) is classified as Residential Class II Type - II. This classification indicates the intended use of the land and its associated regulations.