Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Kerugambakkam village under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, an increase from Rs 1,800 per sq.ft in 2023, marking a rise of 10%. Prior to that, the 2017 revision listed the value at Rs 1,206 per sq.ft, reflecting a significant increase of 49% to 2023. The overall change from 2017 to 2024 is an increase of 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only available revisions are from 2017, 2023, and 2024.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Kumaran Nagar's 2024 figure below this median.

• Kundrathur Main Road: Rs 3,300 per sq.ft (2024)
• Krs Kavinaya Garden: Rs 2,050 per sq.ft (2024)
• Lakshmi Nagar (ward 5): Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar (ward 6): Rs 2,200 per sq.ft (2024)
• Leelavathy Nagar: Rs 1,980 per sq.ft (2024)
• Lendi Garden: Rs 1,980 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. It is important to note that the 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 detailed calculations.

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 Kerugambakkam

The guideline value is a crucial factor during the registration of property transactions in Kerugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a transparent and standardized pricing mechanism. Buyers and sellers must consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, which is an overall increase of 64%. The value increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200. These charges are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Kumaran Nagar?

The Pammal Sub Registrar Office covers Kumaran Nagar. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Kumaran Nagar?

Kumaran Nagar is classified as Residential Class II Type - II, indicating its intended use for residential purposes.