Guideline Value for Kumararajan Nagar Extn.

Kumararajan Nagar Extn. guideline value

The current guideline value of Kumararajan Nagar Extn. is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Payasampakkam village and falls under the Redhills SRO. The land classification is Residential Class I Type - I.

How the guideline value of Kumararajan Nagar Extn. has changed

The guideline value for Kumararajan Nagar Extn. has seen several revisions over the years. Starting from Rs 26 per sq.ft in 2003, it increased significantly to Rs 300 per sq.ft in 2007. The value then rose to Rs 500 per sq.ft in 2012, before dropping to Rs 335 per sq.ft in 2017. By 2023, the value had increased to Rs 500 per sq.ft, and as of the 2024 revision, it stands at Rs 550 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2015%. The register has no figure for the year 2002 for this street.

Guideline values in Payasampakkam

In Payasampakkam, there are 20 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 660 per sq.ft, with the median being Rs 550 per sq.ft. Kumararajan Nagar Extn.'s 2024 figure aligns with this median.

• Kumar Rajan Nagar (A) Mahaveer Estate: Rs 550 per sq.ft (2024)
• Kumaran Nagar: Rs 550 per sq.ft (2024)
• Kumarajan Nagar Annex - 1: Rs 550 per sq.ft (2024)
• Karumari Nagar Extn: Rs 550 per sq.ft (2024)
• Karumari Nagar: Rs 550 per sq.ft (2024)
• Kantha Kottam Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Kumararajan Nagar Extn.

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the 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 Kumararajan Nagar Extn.?

The Sub Registrar Office that covers Kumararajan Nagar Extn. is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Payasampakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the costs involved in the transaction. It is essential to consider the guideline value in relation to the sale price, as the higher of the two will be used for calculating the duty.

Frequently asked questions

What is the current guideline value of Kumararajan Nagar Extn.?

The current guideline value of Kumararajan Nagar Extn. is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 26 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 2015% over this period.

What is the stamp duty on property in Kumararajan Nagar Extn.?

The stamp duty for property in Kumararajan Nagar Extn. is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kumararajan Nagar Extn.?

The Sub Registrar Office for Kumararajan Nagar Extn. is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the guideline values of other streets in Payasampakkam?

Other streets in Payasampakkam have guideline values ranging from Rs 330 to Rs 660 per sq.ft, with several streets, including Kumar Rajan Nagar (A) Mahaveer Estate and Kumaran Nagar, also valued at Rs 550 per sq.ft in 2024.