Guideline Value for Kumari Nagar

Kumari Nagar guideline value

The current guideline value of Kumari Nagar, located in Madanandapuram village under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Kumari Nagar has changed

The guideline value for Kumari Nagar has seen significant changes over the years. In 2007, the value was Rs 400 per sq.ft, which increased dramatically to Rs 3,200 per sq.ft in 2012, marking a rise of 700%. However, it then decreased to Rs 2,144 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 3,200 per sq.ft in 2023, followed by a further increase to Rs 3,520 per sq.ft in 2024, representing a rise of 10%.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 780%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madanandapuram

Madanandapuram has 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft, with the median being Rs 3,520 per sq.ft. The guideline value for Kumari Nagar aligns with this median.

• Kunrathur Main Road: Rs 5,830 per sq.ft (2024)
• Lakshmi Avenue: Rs 3,520 per sq.ft (2024)
• Lakshmi Garden: Rs 3,520 per sq.ft (2024)
• Lakshmi Nagar: Rs 3,520 per sq.ft (2024)
• Krishna Nagar Extension: Rs 3,520 per sq.ft (2024)
• Krishna Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Kumari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees to Rs 3,16,800. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumari Nagar?

The Sub Registrar Office covering Kumari Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madanandapuram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

It is important for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. This value is regularly revised to reflect changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Kumari Nagar?

The current guideline value of Kumari Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 780% over this period.

What are the stamp duty and registration fees for property in Kumari Nagar?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which Sub Registrar Office covers Kumari Nagar?

The Kunrathur Sub Registrar Office covers Kumari Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Kumari Nagar?

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