Guideline Value for Kumaran Nagar 3rd street

Kumaran Nagar 3rd street guideline value

The current guideline value of Kumaran Nagar 3rd street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kumaran Nagar 3rd street has changed

The guideline value for Kumaran Nagar 3rd street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 600 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value continued to rise, reaching Rs 1,200 per sq.ft in 2023, and then increasing again to Rs 1,300 per sq.ft in the 2024 revision, which is an 8% increase from the previous year.

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

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1384 streets under the Royapuram SRO, with guideline values ranging 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 3rd street's 2024 figure below that median.

• Kumaran Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Kumaran Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Kumaran Nagar 1st 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 3rd 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, charged at 7%, would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, these fees would total Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kumaran Nagar 3rd street?

The Sub Registrar Office that covers Kumaran Nagar 3rd 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 the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall transaction costs. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Kumaran Nagar 3rd street?

The current guideline value of Kumaran Nagar 3rd 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 are the stamp duty rates for property in Kumaran Nagar 3rd street?

The stamp duty for property transactions in Kumaran Nagar 3rd street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office covering Kumaran Nagar 3rd street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Kumaran Nagar 3rd street?

Kumaran Nagar 3rd street is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.