Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value for Kumaran Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen several revisions over the years. The earliest available figure is from 2007, when it was Rs 300 per sq.ft. This value increased significantly by 200% to Rs 900 per sq.ft in 2012. However, it dropped by 33% to Rs 603 per sq.ft in 2017. The value then rose by 49% to Rs 900 per sq.ft in 2023, and most recently, it increased by 10% to Rs 990 per sq.ft in the 2024 revision.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO with a 2024 guideline value range from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, placing Kumaran Nagar's 2024 figure below that median.

• Kulakarai Street: Rs 990 per sq.ft (2024)
• Krishnavijayam Nagar: Rs 990 per sq.ft (2024)
• Lakshmi Nagar: Rs 990 per sq.ft (2024)
• Loganathan Nagar: Rs 1,100 per sq.ft (2024)
• K.K Nagar: Rs 990 per sq.ft (2024)
• Karumariamman Nagar: Rs 990 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 would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, 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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Mannivakkam. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory during the property registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This value is essential for both buyers and sellers to understand the financial implications of their property dealings.

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 changed from Rs 300 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, showing a significant increase of 230% overall.

Where can I find the registration office for Kumaran Nagar?

The registration office for Kumaran Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For example, for a property valued at Rs 9,90,000, the total fees would be Rs 89,100.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically. It reflects the current market conditions and is used to calculate stamp duty and registration fees.