Guideline Value for Kumarasamy Nagar

Kumarasamy Nagar guideline value

The current guideline value of Kumarasamy Nagar is Rs 4,000 per sq.ft, effective from 1 July 2024. This area is located in Ambattur village under the Ambattur SRO and is classified as Residential Special Type - II.

How the guideline value of Kumarasamy Nagar has changed

The guideline value for Kumarasamy Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,700 per sq.ft, which was a decrease of 33% from Rs 2,479 per sq.ft in 2017. The 2023 revision increased the value to Rs 3,700 per sq.ft, followed by another increase to Rs 4,000 per sq.ft in 2024, marking an 8% rise from the previous year.

From 2017 to 2023, the value rose significantly by 49%. Overall, comparing the 2012 revision to the current 2024 figure, there has been an 8% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value is Rs 3,600 per sq.ft, placing Kumarasamy Nagar's current value above this median.

• Kumarasamy Muthali Street: Rs 4,000 per sq.ft (2024)
• Kupusamy Street: Rs 3,600 per sq.ft (2024)
• Lakshmanapuram: Rs 2,200 per sq.ft (2024)
• K.S.R.nagar: Rs 5,100 per sq.ft (2024)
• KrishnaThirai Arangam Street: Rs 3,600 per sq.ft (2024)
• Krishnasamy masthri Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy Nagar

For a 1,000 sq.ft plot at the current rate of Rs 4,000 per sq.ft, the guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, totaling Rs 3,60,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumarasamy Nagar?

Kumarasamy Nagar falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a critical role in the registration process of property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are essential costs to consider. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kumarasamy Nagar?

The current guideline value of Kumarasamy Nagar is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,700 per sq.ft in 2023 to Rs 4,000 per sq.ft in 2024. It was Rs 2,479 per sq.ft in 2017, and Rs 3,700 per sq.ft in 2012, showing fluctuations in the values across revisions.

What is the land classification of Kumarasamy Nagar?

Kumarasamy Nagar is classified as Residential Special Type - II, indicating its suitability for residential purposes.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated in Kumarasamy Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 40,00,000 would incur a stamp duty of Rs 2,80,000 at 7%.