Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Kovur village under the Kunrathur SRO, is Rs 1,320 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification.

How the guideline value of Kumaran Nagar has changed

Looking back at the revisions, the guideline value for Kumaran Nagar was Rs 1,200 per sq.ft in 2023, which increased to Rs 1,320 per sq.ft in 2024, marking a change of +10%. Prior to that, in 2017, the value was Rs 804 per sq.ft. This shows a significant increase of +49% from 2017 to 2023. The 2012 revision also recorded a value of Rs 1,200 per sq.ft, indicating a decrease of -33% from the 2017 figure.

From 2012 to 2024, the overall change in the guideline value is +10%. It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovur

Kovur village has 91 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, positioning Kumaran Nagar's 2024 figure below this median.

• Krishna Street (Suresh Nagar): Rs 1,650 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Lakshmi Nagar Extension Babu Garden 1: Rs 1,650 per sq.ft (2024)
• Lakshmi Nagar Extension/ Babu Garden 2: Rs 1,650 per sq.ft (2024)
• K.N.B. Nagar: Rs 1,430 per sq.ft (2024)
• Kilaku Madaveethi Street: Rs 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It's important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 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 Kovur

The guideline value is a crucial factor when registering property transactions in Kovur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the legal requirements during the sale process.

When purchasing property, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, a +10% increase. It was Rs 804 per sq.ft in 2017, showing a +49% increase from 2017 to 2023.

What are the guideline values of other streets in Kovur?

Other streets in Kovur have varying guideline values, ranging from Rs 1,320 to Rs 3,300 per sq.ft. For example, Krishna Street (Suresh Nagar) and Lakshmi Nagar both have a guideline value of Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Kumaran Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total costs would be Rs 1,18,800, which includes both fees.

Which office do I need to visit for property registration in Kumaran Nagar?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, covers property registrations for Kumaran Nagar.