Guideline Value for Kumaran Street/Kumarapuram Street (Nilamangai Nagar)

Kumaran Street/Kumarapuram Street (Nilamangai Nagar) guideline value

The current guideline value for Kumaran Street/Kumarapuram Street (Nilamangai Nagar) is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kumaran Street/Kumarapuram Street (Nilamangai Nagar) has changed

The guideline value for Kumaran Street/Kumarapuram Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017, marking a -33% change. In 2023, the value increased to Rs 3,500 per sq.ft, and in the latest 2024 revision, it rose to Rs 3,900 per sq.ft, reflecting an increase of 11% from the previous year.

In summary, the guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,900 per sq.ft in 2024, resulting in a total increase of 49% from 2017 to 2023 and an overall increase of 11% from 2012 to 2024. It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value among these streets is Rs 3,900 per sq.ft, which aligns with the current guideline value for Kumaran Street/Kumarapuram Street.

• Kumarapuram 1st Lane (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 1st Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 2nd Lane (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 2nd Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 3rd Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kundrakudi Adigalar Lane (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Street/Kumarapuram Street (Nilamangai Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. 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 Street/Kumarapuram Street (Nilamangai Nagar)?

The Sub Registrar Office that covers Kumaran Street/Kumarapuram Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Kumaran Street/Kumarapuram Street?

The current guideline value for Kumaran Street/Kumarapuram Street (Nilamangai Nagar) is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Kumaran Street/Kumarapuram Street (Nilamangai Nagar) is Residential Class I Type - III.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 2,73,000.