Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is located in Kattupakkam village, under the Kunrathur Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Kumaran Nagar has changed

The guideline value of Kumaran Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 93 per sq.ft, which increased to Rs 250 per sq.ft in 2007. This was a significant rise of 169%. The value then surged dramatically to Rs 1,900 per sq.ft in 2012, marking an increase of 660%. However, between 2012 and 2017, the guideline value decreased to Rs 1,273 per sq.ft, a decline of 33%. The value then rose to Rs 1,900 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,090 per sq.ft, indicating a 10% increase from the previous year.

There is no figure available for the year 2002 in the register for Kumaran Nagar. Overall, from 2003 to 2024, the guideline value has increased by 2147%.

Guideline values in Kattupakkam

Kattupakkam village has 75 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,290 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, which is equal to the guideline value of Kumaran Nagar. Below are the guideline values for other streets in Kattupakkam:

• Kumanan Chavadi (Poonamallee High Road): Rs 4,290 per sq.ft (2024)
• Kundrathur Road: Rs 4,290 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,090 per sq.ft (2024)
• K.K. Nagar: Rs 2,090 per sq.ft (2024)
• Lurthupuram Road: Rs 1,980 per sq.ft (2024)
• Machine Road: Rs 2,090 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800. Together, the total cost for stamp duty and registration fee would be Rs 1,88,100. 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?

Kumaran Nagar is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kattupakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider this value to ensure that they comply with the legal requirements during the buying or selling process.

When a property is sold, the guideline value is often referenced to ascertain the minimum price at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 93 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, representing an overall increase of 2147%.

What is the land classification for Kumaran Nagar?

Kumaran Nagar is classified as Residential Class I Type - I.

What is the registration office for Kumaran Nagar?

The registration office for Kumaran Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Kumaran Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300 at 7%.