Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Satthankadu village under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

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 guideline value was Rs 600 per sq.ft. This figure increased significantly to Rs 3,100 per sq.ft in 2012, marking a 417% rise. However, it then decreased to Rs 2,077 per sq.ft in 2017, reflecting a 33% drop. The value rebounded to Rs 3,100 per sq.ft in 2023, followed by a further increase to Rs 3,400 per sq.ft in 2024, which is a 10% rise from the previous year. The register has no figure for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 467%. The fluctuations in the values indicate a dynamic change in the property landscape of Kumaran Nagar over the years.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO, with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,400 per sq.ft, which is equal to the guideline value of Kumaran Nagar.

• Kavari Street: Rs 3,400 per sq.ft (2024)
• Kavarai street: Rs 3,400 per sq.ft (2024)
• Manali Express Road: Rs 3,400 per sq.ft (2024)
• Kanniyappa Nagar Street: Rs 3,400 per sq.ft (2024)
• Mettu Street: Rs 3,400 per sq.ft (2024)
• M.G.R. Salai: Rs 3,800 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 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, resulting in a total cost of Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Nagar?

The Sub Registrar Office that covers Kumaran Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more details, you can find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Satthankadu. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during property transactions.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 467% over the years.

What is the land classification of Kumaran Nagar?

Kumaran Nagar is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Kumaran Nagar?

For a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 and the registration fee would be Rs 68,000, totaling Rs 3,06,000.

Which office handles property registration for Kumaran Nagar?

The Thiruvottiyur Sub Registrar Office handles property registration for Kumaran Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.