Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 1,500 per sq.ft, as per the 2023 revision. This area falls under the Gooduvancheri SRO and is classified as Commercial Class I Type - I.

How the guideline value of Kumaran Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a reduction of 33%. However, from 2017 to the 2023 revision, the value saw an increase of 49%, bringing it back up to Rs 1,500 per sq.ft.

Overall, from the 2012 revision to the 2023 revision, the guideline value has not changed, remaining at Rs 1,500 per sq.ft. The register does not have figures for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Melakottyur

Currently, there are no specific village figures available for Melakottyur. Kumaran Nagar is one of the streets under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Kumaran Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value totals 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 to Rs 1,35,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Melakottyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is important to note that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring compliance with legal requirements.

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, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, a decrease of 33%. It then increased back to Rs 1,500 per sq.ft in the 2023 revision, resulting in an overall change of 0% from 2012 to 2023.

What is the stamp duty rate in Kumaran Nagar?

The stamp duty rate in Kumaran Nagar is 7% of the guideline value or the sale price, whichever is higher. This is applicable during property registration.

What are the registration fees for properties in Kumaran Nagar?

The registration fee for properties in Kumaran Nagar is 2% of the guideline value or the sale price, whichever is higher. This fee is also payable at the time of registration.

Where is the Sub Registrar Office for Kumaran Nagar located?

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