Guideline Value for Kumaran nagar

Kumaran nagar guideline value

The current guideline value of Kumaran nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Thirumazhisai village under the Poonamallee SRO, classified as Residential Special Type - I.

How the guideline value of Kumaran nagar has changed

The guideline value of Kumaran nagar has seen several revisions over the years. The earliest recorded figure is Rs 74 per sq.ft in 2002, which increased to Rs 89 per sq.ft in 2003. Following this, the value rose significantly to Rs 150 per sq.ft in 2007, and then to Rs 1,000 per sq.ft in 2012. However, it dropped to Rs 670 per sq.ft in 2017 before climbing to Rs 1,000 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

In summary, the changes in guideline values between revisions are as follows: from 2002 to 2003, there was a 20% increase; from 2003 to 2007, a 69% increase; from 2007 to 2012, a substantial 567% increase; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, a 49% increase; and finally, from 2023 to 2024, a 10% increase. Overall, the guideline value has increased by 1386% from 2002 to 2024.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, indicating that the guideline value of Kumaran nagar is below this median.

• Kumaresan Nagar: Rs 1,650 per sq.ft (2024)
• Kslashtri Nagar Extension: Rs 1,320 per sq.ft (2024)
• Kslashtri Nagar: Rs 1,320 per sq.ft (2024)
• Kslashtri Moorthy Avenue: Rs 1,320 per sq.ft (2024)
• Kslashtri Baby Nagar: Rs 1,320 per sq.ft (2024)
• Kuppusamy Nagar: Rs 1,100 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kumaran nagar?

The Sub Registrar Office covering Kumaran nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a key factor when registering property in Thirumazhisai. It is used to determine the stamp duty and registration fees applicable to a property transaction, ensuring that these fees are calculated based on a standardized valuation of the property.

When buying or selling property, it is essential to refer to the current guideline value, as it directly impacts the financial obligations during the registration process. Buyers should be aware that the guideline value may vary across different streets within the same village.

Frequently asked questions

What is the current guideline value of Kumaran nagar?

The current guideline value of Kumaran nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 74 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 1386% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 77,000, and the registration fee is Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Kumaran nagar?

The Poonamallee Sub Registrar Office covers Kumaran nagar, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.

What is the median guideline value in Thirumazhisai?

The median guideline value for streets in Thirumazhisai is Rs 1,320 per sq.ft, which is higher than the current guideline value of Kumaran nagar.