Guideline Value for N.K Kumarasamy Estste

N.K Kumarasamy Estste guideline value

The current guideline value of N.K Kumarasamy Estste is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of N.K Kumarasamy Estste has changed

The guideline value for N.K Kumarasamy Estste has seen several revisions over the years. The earliest recorded figure in the register is from 2012, where the guideline value was Rs 2,000 per sq.ft. In 2017, the value decreased to Rs 1,340 per sq.ft, marking a significant drop of 33%. However, from 2017 to the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, representing a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, 2007, and 2023 for this street. Therefore, the changes in guideline values are only noted for the years 2012, 2017, and 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing N.K Kumarasamy Estste's 2024 figure below this median.

• North Mada Street: Rs 1,900 per sq.ft (2024)
• Nuthanjeri Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• Nuthanjeri Colony Street: Rs 2,750 per sq.ft (2024)
• Nuthanjeri Sudalai Salai: Rs 2,200 per sq.ft (2024)
• New Jerusalam Nagar: Rs 1,300 per sq.ft (2024)
• New Ambedkar Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in N.K Kumarasamy Estste

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is calculated at 7%, resulting in Rs 1,54,000, while the registration fee is charged at 2%, amounting to Rs 44,000. Together, the total stamp duty and registration fee would be Rs 1,98,000. 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 N.K Kumarasamy Estste?

The N.K Kumarasamy Estste is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

To find your specific Sub Registrar Office, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate the associated costs.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the actual value of the transaction.

Frequently asked questions

What is the current guideline value of N.K Kumarasamy Estste?

The current guideline value of N.K Kumarasamy Estste is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024.

What is the land classification for N.K Kumarasamy Estste?

N.K Kumarasamy Estste is classified as Residential Special Type - I, indicating its use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Madambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.