Guideline Value for Kunkumam Nagar

Kunkumam Nagar guideline value

The current guideline value of Kunkumam Nagar, located in Porur village under the Kunrathur SRO, is Rs 4,290 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of Kunkumam Nagar has changed

The guideline value for Kunkumam Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 219 per sq.ft. This increased to Rs 296 per sq.ft in 2003, marking a 35% rise. The following revisions recorded significant changes, with the value jumping to Rs 750 per sq.ft in 2007, which was a 153% increase from the previous year. The 2012 revision saw the value remain at Rs 3,900 per sq.ft, while the 2017 revision increased it to Rs 2,613 per sq.ft, reflecting a decrease of 33% from the previous figure. The value then rose sharply to Rs 3,900 per sq.ft in 2023, and finally to Rs 4,290 per sq.ft in 2024, indicating a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1859%. The register has no figures for the years between 2012 and 2017 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. Kunkumam Nagar's 2024 figure is above this median.

• Kunkumam Nagar 1st Lane: Rs 3,960 per sq.ft (2024)
• Kunkumam Nagar 1st Street: Rs 3,960 per sq.ft (2024)
• Kunkumam Nagar 2 nd Lane: Rs 3,960 per sq.ft (2024)
• Kunkumam Nagar 2nd Street: Rs 3,960 per sq.ft (2024)
• Kunkumam Nagar 3rd Street: Rs 3,960 per sq.ft (2024)
• Kunkumam Nagar 4th Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Kunkumam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,290 per sq.ft, the total guideline value would be Rs 42,90,000. The stamp duty at 7% would amount to Rs 3,00,300, while the registration fee at 2% would be Rs 85,800. Together, the total cost for stamp duty and registration would be Rs 3,86,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kunkumam Nagar?

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

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

When buying or selling property in Porur, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees, which are mandatory for legal property transactions. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for both buyers and sellers as it ensures compliance with legal requirements. It also provides a transparent basis for calculating the costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Kunkumam Nagar?

The current guideline value of Kunkumam Nagar is Rs 4,290 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 219 per sq.ft in 2002 to Rs 4,290 per sq.ft in 2024, reflecting an overall increase of 1859% over this period.

What are the stamp duty and registration fees for Kunkumam Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,86,100.

Which office handles property registrations in Kunkumam Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Kunkumam Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Kunkumam Nagar?

The land classification for Kunkumam Nagar is Mixed Special Type - II, which indicates the type of development permissible in the area.