Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Siru Mangadu village under the Sunguvarchattram SRO, classified as Residential Special Type - I.

How the guideline value of Kumaran Nagar has changed

Over the years, the guideline value of Kumaran Nagar has seen several revisions. The 2007 revision set the value at Rs 55 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, there was a decrease to Rs 201 per sq.ft in the 2017 revision. From 2017 to 2023, the value rose to Rs 300 per sq.ft, and it has remained unchanged at this level through the 2024 revision, showing a 0% change from 2023 to 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 445%.

Guideline values in Siru Mangadu

Siru Mangadu village has nine streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 528 per sq.ft, with a median value of Rs 200 per sq.ft. Kumaran Nagar's 2024 value of Rs 300 per sq.ft is above this median.

• Kanniamman Kovil Street: Rs 200 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• Jemi Sirumangadu New Town: Rs 200 per sq.ft (2024)
• Nadu Street: Rs 150 per sq.ft (2024)
• Iswaryam Nagar: Rs 200 per sq.ft (2024)
• Periya Street: Rs 150 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total fees Rs 27,000. It is important to note that 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?

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

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

The guideline value is a crucial factor during the registration process when buying or selling property in Siru Mangadu. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and fairness in property transactions within the region.

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 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 55 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, before returning to Rs 300 per sq.ft in 2023 and 2024.

What is the median guideline value in Siru Mangadu?

The median guideline value for the streets in Siru Mangadu is Rs 200 per sq.ft, with Kumaran Nagar's value of Rs 300 per sq.ft being above this median.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which office handles registrations for Kumaran Nagar?

The Sunguvarchattram Sub Registrar Office handles registrations for Kumaran Nagar, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.