Guideline Value for Kumudham Nagar Annexe

Kumudham Nagar Annexe guideline value

The current guideline value of Kumudham Nagar Annexe is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village, under the jurisdiction of the Kunrathur SRO. The land classification for this street is Mixed Special Type - I.

How the guideline value of Kumudham Nagar Annexe has changed

The guideline value for Kumudham Nagar Annexe has seen several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012. However, in 2017, the value dropped to Rs 2,144 per sq.ft before rising again to Rs 3,200 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 369%. The changes between the revisions include a 327% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a substantial 49% increase from 2017 to 2023. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mogalivakkam

Mogalivakkam comprises 98 streets under the Kunrathur SRO, with guideline values in 2024 ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value for the area is Rs 2,970 per sq.ft, placing Kumudham Nagar Annexe above this median.

• Lakshmi Nagar: Rs 3,520 per sq.ft (2024)
• Krishnaveni Nagar Extension: Rs 2,970 per sq.ft (2024)
• Krishnaveni Nagar: Rs 2,970 per sq.ft (2024)
• K.R.B.Avenue: Rs 2,530 per sq.ft (2024)
• Lalitha Avenue: Rs 2,970 per sq.ft (2024)
• Lalithambal Nagar: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Kumudham Nagar Annexe

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 cost for these fees to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumudham Nagar Annexe?

The Sub Registrar Office that covers Kumudham Nagar Annexe is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Mogalivakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers need to pay when completing a property transaction.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall cost of the transaction. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, ensuring that they are prepared for the financial implications of their purchase.

Frequently asked questions

What is the current guideline value of Kumudham Nagar Annexe?

The current guideline value of Kumudham Nagar Annexe 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 significantly from Rs 750 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 369% over the years.

What is the land classification of Kumudham Nagar Annexe?

The land classification for Kumudham Nagar Annexe is Mixed Special Type - I.

Where can I find the Kunrathur Sub Registrar Office?

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

How is stamp duty calculated for properties in Kumudham Nagar Annexe?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property with a guideline value of Rs 35,20,000, the stamp duty at 7% would be Rs 2,46,400.