Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Sembiam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen several revisions over the years. In 2002, the value was Rs 318 per sq.ft, which increased to Rs 345 per sq.ft in 2003. Following this, the value rose significantly to Rs 900 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft from the 2024 revision.

The changes between revisions are notable. From 2002 to 2003, the increase was +8%. The value saw a significant rise of +161% from 2003 to 2007. There was a remarkable increase of +178% from 2007 to 2012, followed by a decrease of -33% from 2012 to 2017. The value increased by +49% from 2017 to 2023, and finally, there was an increase of +8% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +749%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Kumaran Nagar is below this median.

• K.S. Nagar: Rs 2,700 per sq.ft (2024)
• Krishna Swamy Nagar: Rs 3,300 per sq.ft (2024)
• Krishnan Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Lake Avenue: Rs 2,700 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 3,300 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, calculated at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kumaran Nagar?

The Sub Registrar Office that covers Kumaran Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented correctly according to government regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 318 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +749% over the years.

What is the registration office for Kumaran Nagar?

The registration office for Kumaran Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kumaran Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.

What are the guideline values for other streets in Kolathur?

Other streets in Kolathur have varying guideline values, ranging from Rs 2,700 per sq.ft to Rs 3,300 per sq.ft in 2024, with the median value being Rs 3,300 per sq.ft.