Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Payasampakkam village under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 300 per sq.ft. This increased to Rs 500 per sq.ft in 2012, then saw a decrease to Rs 335 per sq.ft in 2017. The value rose significantly to Rs 500 per sq.ft in 2023 and is now Rs 550 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The most recent change from 2023 to 2024 represents a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Payasampakkam

In Payasampakkam village, there are 20 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 660 per sq.ft. The median value is Rs 550 per sq.ft, making Kumaran Nagar's 2024 figure equal to this median.

• Kumarajan Nagar Annex - 1: Rs 550 per sq.ft (2024)
• Kumararajan Nagar Extn.: Rs 550 per sq.ft (2024)
• Kumar Rajan Nagar (A) Mahaveer Estate: Rs 550 per sq.ft (2024)
• Karumari Nagar Extn: Rs 550 per sq.ft (2024)
• Karumari Nagar: Rs 550 per sq.ft (2024)
• Kantha Kottam Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. 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 jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

When buying or selling property in Payasampakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. This value is set by the government and is used to calculate the taxes applicable during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the legal requirements during property registration. The guideline value is updated periodically, reflecting changes in the real estate landscape.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What is the registration fee for property in Kumaran Nagar?

The registration fee is 2% of the guideline value. For a property valued at Rs 5,50,000, the registration fee would be Rs 11,000.

Which office handles property registrations in Kumaran Nagar?

The Redhills Sub Registrar Office handles property registrations for Kumaran Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What should I know about stamp duty in Kumaran Nagar?

The stamp duty in Kumaran Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500.