Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Gooduvancheri village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen several revisions over the years. In the 2017 revision, the value was set at Rs 1,005 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,500 per sq.ft. With the latest 2024 revision, the value has again been set at Rs 1,500 per sq.ft, indicating no change from the previous year. The register has no figure for this street in the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase remains the same at 49%, reflecting a steady valuation since 2023.

Guideline values in Gooduvancheri

In Gooduvancheri village, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, which is equal to the 2024 figure for Kumaran Nagar. Below are the guideline values for other streets in Gooduvancheri:

• Kupuswamy Nayakar Street: Rs 2,001 per sq.ft (2024)
• Kupuswamy Pillai Street: Rs 1,200 per sq.ft (2024)
• Krishna Nagar: Rs 1,200 per sq.ft (2024)
• Lal Bagadur Sastri Street: Rs 2,001 per sq.ft (2024)
• K.K. Nagar: Rs 2,001 per sq.ft (2024)
• KJ Nagar Extn: Rs 1,000 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 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kumaran Nagar?

The Sub Registrar Office that covers Kumaran Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Gooduvancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft since the 2023 revision. The value increased from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, marking a 49% increase over that period.

What is the land classification for Kumaran Nagar?

Kumaran Nagar is classified as Residential Special Type - I, which indicates its zoning for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu 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 of the property. For example, for a property valued at Rs 15,00,000, the stamp duty at 7% would be Rs 1,05,000.