Guideline Value for Kumarapuram 1st Lane (Nilamangai Nagar)

Kumarapuram 1st Lane (Nilamangai Nagar) guideline value

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

How the guideline value of Kumarapuram 1st Lane (Nilamangai Nagar) has changed

The guideline value for Kumarapuram 1st Lane (Nilamangai Nagar) has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft. However, in 2017, it decreased to Rs 2,345 per sq.ft, marking a decline of 33%. The 2023 revision brought it back up to Rs 3,500 per sq.ft, and the most recent 2024 revision has increased it to Rs 3,900 per sq.ft, which is an increase of 11% from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register has no 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 is Rs 3,900 per sq.ft, which is equal to the current guideline value of Kumarapuram 1st Lane (Nilamangai Nagar).

• 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)
• Kumaran Street/Kumarapuram 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 Kumarapuram 1st Lane (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 fees together to Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumarapuram 1st Lane (Nilamangai Nagar)?

The Sub Registrar Office that covers Kumarapuram 1st Lane (Nilamangai Nagar) 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 plays a crucial role in the registration process when buying or selling property in Adambakkam. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally, providing protection to both the buyer and the seller.

Frequently asked questions

What is the current guideline value of Kumarapuram 1st Lane (Nilamangai Nagar)?

The current guideline value of Kumarapuram 1st Lane (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 back 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 of Kumarapuram 1st Lane (Nilamangai Nagar)?

Kumarapuram 1st Lane (Nilamangai Nagar) falls under the Residential Class I Type - III land classification.

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 stamp duty calculated for properties in Adambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.