Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is part of Nandambakkam village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 50 per sq.ft, which saw a significant increase to Rs 900 per sq.ft in 2012, marking a change of +1700%. However, this value dropped to Rs 603 per sq.ft in 2017, a decrease of -33%. The value then rose sharply to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024, reflecting an increase of +10%.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by +1880%, highlighting the substantial changes over this period.

Guideline values in Nandambakkam

Nandambakkam village has a total of 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft. The median value for these streets is Rs 880 per sq.ft, making Kumaran Nagar's 2024 figure of Rs 990 per sq.ft above this median.

• Krishna Nagar: Rs 990 per sq.ft (2024)
• LakshmiNagar: Rs 880 per sq.ft (2024)
• Lakshmi Nagar Entn: Rs 990 per sq.ft (2024)
• Kodambakkam High Road: Rs 1,210 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 720 per sq.ft (2024)
• Mahalakshmi Nagar Extn I and II: Rs 990 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800. Therefore, the total cost for stamp duty and registration would be Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kumaran Nagar?

Kumaran Nagar is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nandambakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are recorded at a fair value as per the government's assessment.

When a property is sold, the buyer must pay these fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting a significant increase of +1880% overall.

What is the land classification for Kumaran Nagar?

Kumaran Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Where is the Sub Registrar Office for Kumaran Nagar located?

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