Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen significant changes over the years. In 2003, the value was Rs 213 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking a substantial rise of 135%. The value then surged to Rs 2,300 per sq.ft in 2012, a remarkable increase of 360%. However, it saw a decrease of 33% to Rs 1,541 per sq.ft in 2017. The value climbed again to Rs 2,300 per sq.ft in 2023, before reaching the current figure of Rs 2,530 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1,088%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft, with the median value being Rs 2,530 per sq.ft. Kumaran Nagar's current guideline value aligns with this median.

• Kumaran Colony: Rs 1,980 per sq.ft (2024)
• Kumaran Nagar Saroja Ammal Street: Rs 2,530 per sq.ft (2024)
• Kula Street: Rs 1,080 per sq.ft (2024)
• Lake view Street (Erikkarai Street): Rs 2,530 per sq.ft (2024)
• Lakshmi Colony: Rs 2,530 per sq.ft (2024)
• Lakshmi Colony Extn: Rs 2,530 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 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total cost for these fees to Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value and 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kilkattalai. It is used to determine the minimum value at which a property can be registered. When buying or selling property, the guideline value is often referenced to ensure compliance with registration regulations.

Additionally, the guideline value affects the calculation of stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. Therefore, understanding the guideline value is essential for both buyers and sellers in the property market.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 213 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 1,088% over this period.

What is the land classification of Kumaran Nagar?

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

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

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which office handles property registrations in Kumaran Nagar?

The Pallavaram Sub Registrar Office handles property registrations for Kumaran Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.