Guideline Value for Kumarapuram 1st Street (Nilamangai Nagar)

Kumarapuram 1st Street (Nilamangai Nagar) guideline value

The current guideline value of Kumarapuram 1st Street (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, classified as Residential Class I Type - III.

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

The guideline value for Kumarapuram 1st Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and finally rose to Rs 3,900 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

From 2017 to 2023, there was a substantial 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 village, 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 means that the guideline value for Kumarapuram 1st Street is equal to this median.

• Kumarapuram 1st Lane (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 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 amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. 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 details.

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

The Kumarapuram 1st Street (Nilamangai Nagar) falls under the jurisdiction of 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 when registering a property in Adambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value helps in assessing the fair price of the property. It is essential for both buyers and sellers to be aware of the current guideline value to ensure a smooth transaction process.

Frequently asked questions

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

The current guideline value of Kumarapuram 1st 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 increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Kumarapuram 1st Lane, Kumarapuram 2nd Lane, Kumarapuram 2nd Street, Kumarapuram 3rd Street, Kumaran Street/Kumarapuram Street, and Kundrakudi Adigalar Lane.

What are the registration fees for properties in Kumarapuram 1st Street?

The registration fees for properties in Kumarapuram 1st Street include a stamp duty of 7% and a registration fee of 2%, calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kumarapuram 1st Street?

The Sub Registrar Office covering Kumarapuram 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.