Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Santhavellur village, is Rs 305 per sq.ft, effective from 1 July 2024. This area falls under the Sunguvarchattram SRO and is classified as Residential Class I 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 2012 revision set the value at Rs 300 per sq.ft, which then dropped to Rs 201 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 300 per sq.ft in the 2023 revision, and finally, it rose to Rs 305 per sq.ft in the 2024 revision, marking a 2% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 2%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Santhavellur

In Santhavellur, there are 63 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,800 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Kumaran Nagar is below this median.

• Kullakkarai Street: Rs 300 per sq.ft (2024)
• Krishna Nagar: Rs 600 per sq.ft (2024)
• KKR Supreme City: Rs 2,002 per sq.ft (2024)
• Lucky Land: Rs 305 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 400 per sq.ft (2024)
• Mariamman Kovil Street: Rs 250 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 305 per sq.ft, the total guideline value would be Rs 3,05,000. The stamp duty, charged at 7%, would amount to Rs 21,350, and the registration fee at 2% would be Rs 6,100, bringing the total fees to Rs 27,450. 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 details.

Which Sub Registrar Office covers Kumaran Nagar?

The Sub Registrar Office covering Kumaran Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process when buying or selling property in Santhavellur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the transaction is recorded at a value that reflects the official assessment of property worth in the area, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 305 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then to Rs 300 per sq.ft in 2023, and finally to Rs 305 per sq.ft in 2024.

What is the land classification of Kumaran Nagar?

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

What is the stamp duty for property in Kumaran Nagar?

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

Where is the Sub Registrar Office for Kumaran Nagar located?

The Sub Registrar Office for Kumaran Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.