Guideline Value for Kumaran Nagar 2nd street

Kumaran Nagar 2nd street guideline value

The current guideline value of Kumaran Nagar 2nd 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 2nd street has changed

The guideline value for Kumaran Nagar 2nd street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, representing a 100% rise. However, between 2012 and 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The value saw a significant increase to Rs 1,200 per sq.ft in 2023, and further rose to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in the area is Rs 1,600 per sq.ft, indicating that Kumaran Nagar 2nd street's 2024 figure is below that median.

• Kumaran Nagar 1st 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 2nd street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be 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, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumaran Nagar 2nd street?

The Sub Registrar Office that covers Kumaran Nagar 2nd 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities will assess the guideline value to calculate the applicable charges. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the duty is charged on whichever is higher.

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 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, marking an overall increase of 117% over the years.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, which is higher than the current value of Kumaran Nagar 2nd street.

What are the stamp duty and registration fees for property transactions?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, on a 1,000 sq.ft property at Rs 1,300 per sq.ft, the total fees would be Rs 1,17,000.

Which office handles registrations for Kumaran Nagar 2nd street?

The Royapuram Sub Registrar Office handles registrations for Kumaran Nagar 2nd street, located at 535, Tondaiyarpet High Road, Chennai 600021.