Guideline Value for Kumaran Nagar-I & II

Kumaran Nagar-I & II guideline value

The current guideline value of Kumaran Nagar-I & II is Rs 1,000 per sq.ft, as per the 2023 revision. This area falls under Ponmar village and is classified as Residential Special Type - II. The relevant Sub Registrar Office for this location is the Gooduvancheri SRO.

How the guideline value of Kumaran Nagar-I & II has changed

The guideline value for Kumaran Nagar-I & II has seen several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, this value remained unchanged in the 2012 and 2017 revisions, where it dropped to Rs 670 per sq.ft before rising again to Rs 1,000 per sq.ft in 2023.

From 2017 to 2023, there was an increase of 49%. The change from 2012 to 2017 was a decrease of 33%, while the leap from 2007 to 2012 was a remarkable increase of 567%. Overall, from 2007 to 2023, the guideline value has increased by 567%. The register has no figures for the years 2003, 2002, and 2024 for this street.

Guideline values in Ponmar

Currently, there are no specific guideline values provided for other streets in Ponmar. Kumaran Nagar-I & II is the only street mentioned under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Kumaran Nagar-I & II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total cost for stamp duty and registration fee Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kumaran Nagar-I & II?

The Kumaran Nagar-I & II area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kumaran Nagar-I & II. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kumaran Nagar-I & II?

The current guideline value of Kumaran Nagar-I & II is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and finally returned to Rs 1,000 per sq.ft in 2023.

What is the land classification for Kumaran Nagar-I & II?

Kumaran Nagar-I & II is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. This is based on the current guideline value.

Which office handles registrations for Kumaran Nagar-I & II?

The registrations for Kumaran Nagar-I & II are handled by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.