Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar, located in Santhavellur_B village under the Sunguvarchattram SRO, is Rs 300 per sq.ft. This value is effective from the 1st of July, 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has undergone several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 201 per sq.ft. In the subsequent revision in 2023, the value increased to Rs 300 per sq.ft, marking a 49% increase. The most recent revision in 2024 maintained the same value of Rs 300 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Kumaran Nagar. Overall, from 2017 to 2024, the guideline value has seen an increase of 49%.

Guideline values in Santhavellur_B

In Santhavellur_B, there are 55 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,000 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Kumaran Nagar's 2024 figure below that median. Below are the guideline values for other streets in Santhavellur_B:

• Kullakkarai Street: Rs 300 per sq.ft (2024)
• Kurukku Street: Rs 300 per sq.ft (2024)
• Krishna Nagar: Rs 600 per sq.ft (2024)
• KKR Supreme City: Rs 2,000 per sq.ft (2024)
• Lucky Land: Rs 300 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar

For a 1,000 sq.ft plot in Kumaran Nagar at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty, charged at 7%, would be Rs 21,000, while the registration fee, charged at 2%, would be Rs 6,000. This brings the total cost for stamp duty and registration fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Sunguvarchattram Sub Registrar Office. The address is Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Santhavellur_B. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during the transaction.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process ensures that all transactions are documented accurately and transparently, adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 300 per sq.ft, effective from 1st July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023 and 2024, marking a total increase of 49% from 2017 to 2024.

Are there any years with no recorded guideline value for Kumaran Nagar?

Yes, there are no recorded guideline values for Kumaran Nagar in the years 2002, 2003, 2007, and 2012.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 27,000.

Which office handles property registration for Kumaran Nagar?

The Sunguvarchattram Sub Registrar Office handles property registration for Kumaran Nagar, located on Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.