Guideline Value for Kundrakudi Nagar (Nilamangai Nagar)

Kundrakudi Nagar (Nilamangai Nagar) guideline value

The current guideline value of Kundrakudi Nagar (Nilamangai Nagar) is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Adambakkam village and falls under the Alandur SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Kundrakudi Nagar (Nilamangai Nagar) has changed

The guideline value for Kundrakudi Nagar (Nilamangai Nagar) has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the value increased significantly 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. The register has no figure for this street in the years 2002, 2003, and 2007.

Between the revisions, the changes in guideline values are notable. From 2012 to 2017, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 saw an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

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 value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value for Kundrakudi Nagar (Nilamangai Nagar).

• Kundrakudi Nagar (Neruppu Medai) (Indira Gandhi School way): Rs 4,400 per sq.ft (2024)
• Kundrakudi Adigalar Nagar (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kundrakudi Adigalar Main Road (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kundrakudi Adigalar Lane (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 3rd Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Kumarapuram 2nd Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kundrakudi Nagar (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 would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total fees together Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kundrakudi Nagar (Nilamangai Nagar)?

The Sub Registrar Office that covers Kundrakudi Nagar (Nilamangai Nagar) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it directly impacts the financial obligations of both the buyer and seller. This value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value for Kundrakudi Nagar (Nilamangai Nagar)?

The current guideline value for Kundrakudi Nagar (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 significantly from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What are the other streets in Adambakkam with similar guideline values?

Other streets in Adambakkam with a guideline value of Rs 3,900 per sq.ft include Kundrakudi Adigalar Nagar, Kundrakudi Adigalar Main Road, Kundrakudi Adigalar Lane, and Kumarapuram 2nd and 3rd Streets.

What is the stamp duty rate for property transactions in Kundrakudi Nagar?

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

Where can I find the Sub Registrar Office for Kundrakudi Nagar?

The Sub Registrar Office for Kundrakudi Nagar (Nilamangai Nagar) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.