Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Perungalathur village under the Padappai SRO, is Rs 2,310 per sq.ft, 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 earliest available figure is from 2007, where the value was Rs 460 per sq.ft. This increased significantly to Rs 2,100 per sq.ft in 2012, marking a rise of 357%. However, the value dropped to Rs 1,407 per sq.ft in 2017, reflecting a decrease of 33%. The value then surged to Rs 2,100 per sq.ft in 2023, followed by a further increase to Rs 2,310 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 402%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which matches the current guideline value of Kumaran Nagar.

• Kumaran Nagar - S.No.270/2: Rs 2,310 per sq.ft (2024)
• Kumarappa Salai: Rs 2,640 per sq.ft (2024)
• Kundu Medu: Rs 1,980 per sq.ft (2024)
• Kurinchi Nagar Saranga Avenue Link Road: Rs 3,960 per sq.ft (2024)
• Kurinji Nagar: Rs 2,970 per sq.ft (2024)
• Kurinji Nagar Extension: Rs 2,970 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 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, making the total Rs 2,07,900. It is important to note that the 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?

Kumaran Nagar falls under the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perungalathur. It serves as the basis for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When purchasing property, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is recorded accurately in government records, reflecting the true value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 460 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, marking an overall increase of 402%.

What are the other streets in Perungalathur with their guideline values?

Other streets in Perungalathur include Kumarappa Salai at Rs 2,640 per sq.ft, Kundu Medu at Rs 1,980 per sq.ft, and Kurinchi Nagar Saranga Avenue Link Road at Rs 3,960 per sq.ft, among others.

What is the registration fee for property in Kumaran Nagar?

The registration fee for property in Kumaran Nagar is calculated based on the guideline value. For a property valued at Rs 23,10,000, the registration fee at 2% would be Rs 46,200.

Where can I find the Sub Registrar Office for Kumaran Nagar?

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