Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Kunrathour-B village under the Kunrathur SRO, is Rs 1,430 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - II.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen significant changes over the years. The earliest recorded revision for this street is from 2017, where the value was Rs 871 per sq.ft. In the subsequent revision in 2023, the guideline value increased to Rs 1,300 per sq.ft, marking a substantial rise of 49%. The most recent revision in 2024 further increased the value to Rs 1,430 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, indicating that the guideline value of Kumaran Nagar is below this median.

• Kumaran Avenue: Rs 1,920 per sq.ft (2024)
• Kudumi Street: Rs 1,430 per sq.ft (2024)
• Kumudam Enclave: Rs 4,620 per sq.ft (2024)
• Kundrathur Garden: Rs 1,430 per sq.ft (2024)
• Kundrathur Garden Phase I: Rs 1,430 per sq.ft (2024)
• Kundrathur Garden Phase II: Rs 1,430 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 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty, charged at 7%, would be Rs 1,00,100, while the registration fee at 2% would be Rs 28,600. Together, the total cost for stamp duty and registration fee would be Rs 1,28,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

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 Kunrathour-B

The guideline value plays a crucial role during the registration of property transactions in Kunrathour-B. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the established values.

It is essential for buyers and sellers to be aware of the guideline value as it can significantly affect the total cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 871 per sq.ft to Rs 1,430 per sq.ft in 2024, marking an overall increase of 64%.

What is the median guideline value in Kunrathour-B?

The median guideline value for the 325 streets in Kunrathour-B is Rs 1,540 per sq.ft, which is higher than the guideline value of Kumaran Nagar.

What are the stamp duty rates for properties in Kumaran Nagar?

The stamp duty for properties in Kumaran Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.