Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 2,350 per sq.ft, effective from 1 July 2024. This area is located in Anakaputhur village under the Pammal SRO, classified as Residential Class III Type - I.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen significant changes over the years. Starting from Rs 198 per sq.ft in 2003, it increased to Rs 210 per sq.ft in 2007, which marked a 6% rise. Following that, the value surged to Rs 1,407 per sq.ft in 2017, representing a remarkable increase of 570%. In 2023, the guideline value was Rs 2,099 per sq.ft, reflecting a 49% rise from the previous revision. The latest revision in 2024 brought the value to Rs 2,350 per sq.ft, which is a 12% increase from 2023.

Overall, from 2003 to 2024, the guideline value has increased by 1,087%. There are no figures available for the years 2002 and 2012 in the register for this street.

Guideline values in Anakaputhur

Anakaputhur village has a total of 501 streets under the Pammal SRO, with guideline values for 2024 ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value in this area is Rs 1,980 per sq.ft, placing Kumaran Nagar's 2024 figure above that median.

• Kumaran Street / (Balaji Nagar): Rs 2,350 per sq.ft (2024)
• Kulakarai Street 1st Street: Rs 2,860 per sq.ft (2024)
• Kulakarai Street: Rs 2,860 per sq.ft (2024)
• Kutty Nadar Street: Rs 1,760 per sq.ft (2024)
• Labour School Street: Rs 2,350 per sq.ft (2024)
• Labour School Street IIIrd Cross Street: Rs 2,350 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 2,350 per sq.ft, the total guideline value amounts to Rs 23,50,000. The stamp duty at 7% would be Rs 1,64,500, and the registration fee at 2% would be Rs 47,000, making the total charges Rs 2,11,500. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. You can also 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Anakaputhur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that must be paid at the time of registration. This ensures that the transaction is recorded accurately and in compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to ensure that they are paying the correct fees. The guideline value is updated periodically, reflecting changes in the real estate market and is an important factor in property transactions.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 2,350 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 198 per sq.ft in 2003 to Rs 2,350 per sq.ft in 2024, marking an overall increase of 1,087%.

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

For a property valued at Rs 23,50,000, the stamp duty would be Rs 1,64,500, and the registration fee would be Rs 47,000, totaling Rs 2,11,500.

Which office handles registrations for Kumaran Nagar?

The Pammal Sub Registrar Office handles registrations for Kumaran Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is updated periodically to reflect changes in the real estate market. It is used to calculate stamp duty and registration fees during property transactions.