Guideline Value for Kumaran Nagar SlumBoard Allotment

Kumaran Nagar SlumBoard Allotment guideline value

The current guideline value for Kumaran Nagar SlumBoard Allotment is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kumaran Nagar SlumBoard Allotment has changed

The guideline value for Kumaran Nagar SlumBoard Allotment has seen several revisions over the years. The earliest recorded figure is from 2003, with a guideline value of Rs 700 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a 43% rise. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a significant increase of 200%. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 371%. The register does not have a figure for the year 2002 for this street.

Guideline values in Ayanavaram

Ayanavaram 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 for the area is Rs 4,900 per sq.ft, placing the Kumaran Nagar SlumBoard Allotment's 2024 figure below this median.

• Kumaran Nagar Ist Street (SlumBoard Allotment): Rs 3,300 per sq.ft (2024)
• Kumaran Nagar Ist Street: 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 SlumBoard Allotment

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, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumaran Nagar SlumBoard Allotment?

The Kumaran Nagar SlumBoard Allotment is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. 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 sold, the buyer must ensure that the sale price is either equal to or higher than the guideline value to avoid discrepancies during registration. This ensures that the appropriate fees are calculated based on the established guideline value.

Frequently asked questions

What is the current guideline value of Kumaran Nagar SlumBoard Allotment?

The current guideline value for Kumaran Nagar 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, reflecting an overall increase of 371% over the years.

What is the land classification for Kumaran Nagar SlumBoard Allotment?

Kumaran Nagar SlumBoard Allotment is classified as Residential Class II Type - II, which indicates its designation for residential use.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Kumaran Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.