Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Vilangadupakkam village under the Redhills SRO, is Rs 550 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 seen several revisions over the years. Starting from Rs 36 per sq.ft in 2003, it increased significantly to Rs 300 per sq.ft in 2007. The value then rose to Rs 500 per sq.ft in 2012, followed by a decrease to Rs 335 per sq.ft in 2017. The most recent revisions saw the value increase to Rs 500 per sq.ft in 2023 and further to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1428%. The register has no figure for Kumaran Nagar for the year 2002.

Guideline values in Vilangadupakkam

Within Vilangadupakkam, there are 160 streets under the Redhills SRO, with guideline values ranging from Rs 365 to Rs 1,792 per sq.ft. The median guideline value is Rs 440 per sq.ft, placing Kumaran Nagar's current value above this median.

• K.J. Nagar: Rs 440 per sq.ft (2024)
• K.C.P. Nagar: Rs 440 per sq.ft (2024)
• Lucky Star City: Rs 440 per sq.ft (2024)
• Mallika Garden: Rs 1,200 per sq.ft (2024)
• Kanniamman Nagar Annex Part-I: Rs 770 per sq.ft (2024)
• Kanagammal 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be 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 higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

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. To find more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Vilangadupakkam, as it determines the minimum value at which a property can be registered. It serves as a benchmark for calculating stamp duty and registration fees during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value ensures transparency and fairness in the registration process. It helps in standardizing property values across different areas, thus facilitating smoother transactions.

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 36 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 1428% over this period.

What is the stamp duty rate for properties in Kumaran Nagar?

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

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

The Sub Registrar Office covering Kumaran Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the guideline values of other streets in Vilangadupakkam?

Other streets in Vilangadupakkam have varying guideline values, with rates ranging from Rs 365 to Rs 1,792 per sq.ft. For example, K.J. Nagar and K.C.P. Nagar both have a guideline value of Rs 440 per sq.ft in 2024.