Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Erumaiyur village under the Padappai SRO, is Rs 440 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which decreased to Rs 268 per sq.ft in the 2017 revision. However, the value saw a significant increase in the 2023 revision, rising to Rs 400 per sq.ft, and further increasing to Rs 440 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for Kumaran Nagar for the years 2002, 2003, and 2007.

Guideline values in Erumaiyur

Erumaiyur village has a total of 21 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,300 per sq.ft, with a median value of Rs 940 per sq.ft. The guideline value of Kumaran Nagar is below this median.

• Keerthi Nagar: Rs 940 per sq.ft (2024)
• Mannadiyamman Koil Street: Rs 550 per sq.ft (2024)
• Indhra Gandhi Street: Rs 550 per sq.ft (2024)
• GR Nagar and Extn: Rs 940 per sq.ft (2024)
• Om Shakthi Nagar (S.No.145, 142/2): Rs 1,650 per sq.ft (2024)
• Ganesh Nagar: Rs 550 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, leading to a total of Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Erumaiyur, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider this value to ensure compliance with legal requirements during property registration.

When purchasing property, the guideline value serves as a benchmark for taxation purposes. It is essential to verify the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Kumaran Nagar?

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

Where can I find the registration office for Kumaran Nagar?

The registration office for Kumaran Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is 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 instance, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 30,800.