Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Varadarajapuram village, under the Padappai SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 900% rise. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The subsequent revision in 2023 set the value at Rs 1,500 per sq.ft, which then increased to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 1000%.

For the years 2002 and 2003, the register has no figure for this street. The guideline values from earlier revisions are as follows: Rs 1,005 per sq.ft in 2017, Rs 1,500 per sq.ft in 2012, and Rs 150 per sq.ft in 2007.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with the 2024 guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the guideline value for Kumaran Nagar.

• Kuberar Avenue: Rs 1,980 per sq.ft (2024)
• Krishna Nagar Part II: Rs 1,650 per sq.ft (2024)
• Krishna Nagar Part I: Rs 1,650 per sq.ft (2024)
• Krishna Nagar I, II and III: Rs 1,320 per sq.ft (2024)
• Krishna Nagar: Rs 1,320 per sq.ft (2024)
• Lakshmi Katatcham Nagar: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the sale price must be compared to the guideline value. The higher of the two will be used to calculate the stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 1,650 per sq.ft, as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What is the median guideline value in Varadarajapuram?

The median guideline value in Varadarajapuram is Rs 1,650 per sq.ft, which is the same as the current value for Kumaran Nagar.

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

The stamp duty rate for properties in Kumaran Nagar is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price.

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

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