Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 900 per sq.ft, as per the 2023 revision. This area falls under Mambakkam village and is classified as Residential Special Type - I. The relevant Sub Registrar Office for this locality is the Gooduvancheri SRO.

How the guideline value of Kumaran Nagar has changed

In the 2007 revision, the guideline value was set at Rs 160 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 900 per sq.ft, marking an increase of 463%. However, in the 2017 revision, the value decreased to Rs 603 per sq.ft, representing a decline of 33%. The most recent revision in 2023 reinstated the guideline value at Rs 900 per sq.ft, showing an increase of 49% from the previous revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 463%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 for this street.

Guideline values in Mambakkam

The Kumaran Nagar guideline value is part of the overall guideline values in Mambakkam. Unfortunately, no specific village figures are provided for this area. Below are the other streets in Mambakkam:

Stamp duty and registration fee for property in Kumaran Nagar

For a 1,000 sq.ft plot at the current rate of Rs 900 per sq.ft, the guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, making the total Rs 81,000. 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 more details.

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 Mambakkam

The guideline value is a crucial factor during property registration in Mambakkam. It serves as a benchmark for determining the minimum value of the property, which is essential for calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is advisable to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 900 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 463% overall. It rose from Rs 160 per sq.ft in 2007 to Rs 900 per sq.ft in 2012, then decreased to Rs 603 per sq.ft in 2017, and returned to Rs 900 per sq.ft in 2023.

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

For a property valued at Rs 9,00,000, the stamp duty would be Rs 63,000, and the registration fee would be Rs 18,000, totaling Rs 81,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri SRO located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Are there any other streets in Mambakkam with guideline values?

No specific figures are provided for other streets in Mambakkam under the Gooduvancheri SRO. Therefore, the guideline value for Kumaran Nagar stands alone in this context.