Guideline Value for Kumarapuram 3rd Street (Nilamangai Nagar)

Kumarapuram 3rd Street (Nilamangai Nagar) guideline value

The current guideline value of Kumarapuram 3rd 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, and is classified as Residential Class I Type - III.

How the guideline value of Kumarapuram 3rd Street (Nilamangai Nagar) has changed

The guideline value for Kumarapuram 3rd Street (Nilamangai Nagar) has undergone several revisions over the years. The 2012 revision recorded a guideline 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 saw a significant increase to Rs 3,500 per sq.ft in the 2023 revision, and further rose to Rs 3,900 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

In summary, the changes between revisions show that from 2017 to 2023, the guideline value increased by 49%, while the overall change from 2012 to 2024 is an increase of 11%. It is important to note that 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 guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Kumarapuram 3rd Street (Nilamangai Nagar).

• Kumarapuram 2nd Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 2nd Lane (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 1st Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 1st Lane (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 3rd 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, making the total charges Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumarapuram 3rd Street (Nilamangai Nagar)?

The Sub Registrar Office that covers Kumarapuram 3rd Street (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 details.

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

The guideline value is a crucial factor when buying or selling property in Adambakkam, as it determines the stamp duty and registration fees payable at the time of registration. Buyers should be aware that the guideline value is set by the Registration Department and reflects the minimum value for property transactions in the area.

When a property is sold, the buyer will need to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Kumarapuram 3rd Street (Nilamangai Nagar)?

The current guideline value of Kumarapuram 3rd 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 is the stamp duty rate for properties in Kumarapuram 3rd Street?

The stamp duty rate for properties in Kumarapuram 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

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

What is the land classification of Kumarapuram 3rd Street?

Kumarapuram 3rd Street (Nilamangai Nagar) is classified as Residential Class I Type - III.