Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Sekkadu village under the Avadi SRO, is Rs 1,075 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Kumaran Nagar has changed

Over the years, the guideline value for Kumaran Nagar has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft. However, in 2017, it decreased to Rs 670 per sq.ft, marking a drop of 33%. The value then increased significantly in the following revisions, reaching Rs 1,000 per sq.ft in 2023 and Rs 1,075 per sq.ft in 2024, reflecting an overall increase of 8% from the 2012 figure.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, there was an 8% rise. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sekkadu

In Sekkadu, there are 56 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 930 to Rs 4,800 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Kumaran Nagar is below this median.

• Kulakkarai Street: Rs 1,075 per sq.ft (2024)
• Kinathangarai Street: Rs 1,075 per sq.ft (2024)
• Karthik Nagar: Rs 1,320 per sq.ft (2024)
• Main Road: Rs 2,250 per sq.ft (2024)
• Kariyappa Nagar: Rs 1,075 per sq.ft (2024)
• Mariyamman Koil Street Kudiyiruppu: Rs 1,075 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,075 per sq.ft, the total guideline value would be Rs 10,75,000. The stamp duty at 7% would be Rs 75,250, and the registration fee at 2% would be Rs 21,500, making the total charges Rs 96,750. 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 more details.

Which Sub Registrar Office covers Kumaran Nagar?

The Sub Registrar Office that covers Kumaran Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Sekkadu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all property transactions are recorded accurately and transparently, reflecting the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 1,075 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 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,075 per sq.ft in 2024.

What is the land classification of Kumaran Nagar?

Kumaran Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the other streets in Sekkadu with similar guideline values?

Other streets in Sekkadu with similar guideline values include Kulakkarai Street, Kinathangarai Street, Kariyappa Nagar, and Mariyamman Koil Street Kudiyiruppu, all valued at Rs 1,075 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Kumaran Nagar?

The Sub Registrar Office for Kumaran Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.