Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This village falls under the Kanchipuram Joint IV SRO and is classified as Residential Class II Type - I.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a 220% rise. However, the value dropped to Rs 536 per sq.ft in 2017, a decrease of 33%. The 2023 revision brought it back up to Rs 800 per sq.ft, and the most recent revision in 2024 has set it at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 252%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ist Division

Kumaran Nagar's 2024 guideline value of Rs 880 per sq.ft aligns with the median value for the 79 streets in Ist Division under the Kanchipuram Joint IV SRO, which ranges from Rs 800 to Rs 3,300 per sq.ft.

• Krishnasamy Street: Rs 880 per sq.ft (2024)
• Lakshmi Nagar: Rs 880 per sq.ft (2024)
• Kosa Street @ ThiruNeelakandar Street: Rs 800 per sq.ft (2024)
• K.M.V.Nagar: Rs 880 per sq.ft (2024)
• K.M.Avenue: Rs 880 per sq.ft (2024)
• Kavalar Housing Board: Rs 1,650 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. 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 detailed calculations.

Which Sub Registrar Office covers Kumaran Nagar?

The Kanchipuram Joint IV Sub Registrar Office covers Kumaran Nagar. The office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kumaran Nagar and the surrounding Ist Division. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the minimum value at which the property can be registered. This ensures transparency in property dealings and helps prevent undervaluation during transactions.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 252% over the years.

What are the stamp duty rates for property in Kumaran Nagar?

The stamp duty for property in Kumaran Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kumaran Nagar located?

The Kanchipuram Joint IV Sub Registrar Office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

What is the land classification of Kumaran Nagar?

Kumaran Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.