Guideline Value for Kumaran Nagar Ist Street

Kumaran Nagar Ist Street guideline value

The current guideline value of Kumaran Nagar Ist Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO with a land classification of Residential Class II Type - II.

How the guideline value of Kumaran Nagar Ist Street has changed

The guideline value for Kumaran Nagar Ist Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, followed by a decrease to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2023, the value rose sharply by 49% to reach Rs 3,000 per sq.ft, and then increased again by 10% to the current rate of Rs 3,300 per sq.ft in the 2024 revision.

It is important to note that there are no recorded figures for Kumaran Nagar Ist Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Ayanavaram

Ayanavaram village 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 in this area is Rs 4,900 per sq.ft, indicating that Kumaran Nagar Ist Street's current guideline value is below this median.

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

Stamp duty and registration fee for property in Kumaran Nagar Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Kumaran Nagar Ist Street?

The Sub Registrar Office that covers Kumaran Nagar Ist Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is recorded accurately and in compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Kumaran Nagar Ist Street?

The current guideline value of Kumaran Nagar Ist Street 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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over this period.

What are the stamp duty and registration fees for properties 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.

Which office handles property registrations for Kumaran Nagar Ist Street?

The AnnaNagar Sub Registrar Office handles property registrations for Kumaran Nagar Ist Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Ayanavaram?

The median guideline value in Ayanavaram is Rs 4,900 per sq.ft, which is higher than the current guideline value of Kumaran Nagar Ist Street.