Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class V Type - I.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has undergone several revisions over the years. The earliest figure available is from 2002, where the value was Rs 84 per sq.ft. This increased to Rs 125 per sq.ft in 2003, marking a 49% rise. Subsequently, in 2007, the value saw a significant jump to Rs 200 per sq.ft, which is an increase of 60%. In 2012, the guideline value rose to Rs 900 per sq.ft, reflecting a 350% increase from the previous revision. However, it then decreased to Rs 603 per sq.ft in 2017, which is a decline of 33%.

From 2017 to 2023, the guideline value increased significantly to Rs 900 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the value at Rs 990 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1079%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Kumaran Nagar is below this median.

• Kumaran Street (Devi Nagar): Rs 2,400 per sq.ft (2024)
• Kulakarai Street: Rs 2,700 per sq.ft (2024)
• Kuel pattu Street (Srisakthi Nagar): Rs 2,400 per sq.ft (2024)
• Kurinji Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Kurinji Street (Vivekananda nagar): Rs 2,700 per sq.ft (2024)
• Kurunthogai Street (Sri Sakthi Nagar): Rs 2,400 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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaran Nagar?

Kumaran Nagar falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

When buying or selling property, it is essential to be aware of the guideline value as it can influence the overall transaction costs. Buyers and sellers should ensure that the sale price is aligned with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 84 per sq.ft in 2002 to Rs 990 per sq.ft in 2024, marking an overall increase of 1079%.

What is the registration office for Kumaran Nagar?

Kumaran Nagar is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated in Kumaran Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 990 per sq.ft, the stamp duty would be Rs 69,300.

What are the guideline values of other streets in Thirumullaivoyal?

Other streets in Thirumullaivoyal have varying guideline values, ranging from Rs 880 to Rs 5,500 per sq.ft, with the median being Rs 2,400 per sq.ft. Streets such as Kumaran Street (Devi Nagar) and Kulakarai Street have values of Rs 2,400 and Rs 2,700 per sq.ft respectively.