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 Koyakbedu village under the AnnaNagar SRO and falls under the Residential Class I Type - II land classification.

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. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,680 per sq.ft in 2017. The value then rose sharply to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year.

In total, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Koyakbedu

Koyakbedu village has 270 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is the same as the current guideline value for Kumaran Nagar 2nd Street.

• Kumaran Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Kumaran Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Kumaran Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Kumaran Nagar 3rd Main Road: Rs 4,400 per sq.ft (2024)
• Kumaran Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Kumaran Nagar 3rd Street: Rs 4,400 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 guideline value of Rs 4,400 per sq.ft, the total 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, bringing the total cost for these fees to Rs 3,96,000. 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?

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 Koyakbedu

The guideline value is a crucial factor in property transactions in Koyakbedu. It serves as a benchmark for determining the minimum value at which properties can be registered. When a buyer and seller agree on a sale price, the higher of the guideline value or the sale price is used to calculate the stamp duty and registration fees.

Understanding the guideline value helps buyers and sellers ensure compliance with local regulations during property transactions. It is important to refer to the latest revisions to be aware of any changes that may affect the transaction costs.

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 from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 193% 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 this area?

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

What is the land classification for Kumaran Nagar 2nd Street?

Kumaran Nagar 2nd Street is classified under Residential Class I Type - II, indicating its suitability for residential development.