Guideline Value for Kumaran Nagar

Kumaran Nagar guideline value

The current guideline value of Kumaran Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Kumaran Nagar has changed

The guideline value for Kumaran Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 750 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 167%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The guideline value then rose again to Rs 2,000 per sq.ft in 2023, and most recently to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 193%. It is important to note that the register has no figures for Kumaran Nagar for the years 2002 and 2003.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Kumaran Nagar's 2024 figure below this median.

• Kumar Avenue: Rs 6,050 per sq.ft (2024)
• Kurinchi Nagar: Rs 3,300 per sq.ft (2024)
• Kurinchi Nagar 1st St: Rs 3,300 per sq.ft (2024)
• Kurinchi Nagar 2nd St: Rs 3,300 per sq.ft (2024)
• Kurinchi Nagar 3rd St: Rs 3,300 per sq.ft (2024)
• Kurinchi Nagar 4th St: Rs 3,300 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaran Nagar?

Kumaran Nagar is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Tambaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the associated fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees. These fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumaran Nagar?

The current guideline value of Kumaran Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 193% over this period.

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

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations in Kumaran Nagar?

The Tambaram Joint 1 Sub Registrar Office handles property registrations in Kumaran Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Kumaran Nagar?

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