Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Puthuper village under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen several revisions over the years. In 2007, the value was set at Rs 50 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012. However, it dropped to Rs 268 per sq.ft in 2017 before stabilizing at Rs 400 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 for this street.

From the 2017 revision to 2023, the guideline value increased by 49%. The substantial rise from 2007 to 2012 was 700%, but the value saw a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 700%.

Guideline values in Puthuper

Puthuper village has 39 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,350 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the guideline value of Kumaran Nagar.

• Kundrathur Main Road: Rs 520 per sq.ft (2024)
• Krithika Garden I & II: Rs 520 per sq.ft (2024)
• Mahalakshmi Garden: Rs 896 per sq.ft (2024)
• Kanniamman Koil Street: Rs 400 per sq.ft (2024)
• Kamatchi Nagar Annex: Rs 400 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration of property transactions in Puthuper. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for legal property transfers.

When buying or selling property, the guideline value ensures that the transaction is recorded at a standard rate, which helps maintain transparency in property dealings. This value is used to determine the applicable fees, ensuring that both buyers and sellers are aware of their financial obligations 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 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 50 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then dropping to Rs 268 per sq.ft in 2017, and stabilizing at Rs 400 per sq.ft in both 2023 and 2024.

What is the land classification of Kumaran Nagar?

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

Where can I find more information about other streets in Puthuper?

For more information about other streets in Puthuper and their guideline values, you can refer to the specific links provided for each street.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 4,00,000, the total fees would amount to Rs 36,000.