Guideline Value for SHRI KUMARAN NAGAR

Shri Kumaran Nagar guideline value

The current guideline value of Shri Kumaran Nagar, located in Ninna Karai village under the Chengleput Joint II SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - IV.

How the guideline value of Shri Kumaran Nagar has changed

The guideline value for Shri Kumaran Nagar has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 1,500 per sq.ft, and with the 2024 revision, it increased to Rs 1,650 per sq.ft, marking a change of +10%.

With the 2024 revision, the current guideline value stands at Rs 1,650 per sq.ft, reflecting an increase from the previous year's value. This upward adjustment indicates a significant change in the valuation of properties in this area.

Guideline values in Ninna Karai

Ninna Karai village comprises 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Shri Kumaran Nagar's 2024 figure above this median.

• Sidco Industrial Estate (Ward -8): Rs 1,321 per sq.ft (2024)
• Silapathiharam Cross Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Silappathikaram Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Sindhamani Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Singaravelan Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Sinthamani Nagar Annex (Pa): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Kumaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total costs together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shri Kumaran Nagar?

The Sub Registrar Office that covers Shri Kumaran Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Ninna Karai, 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 both parties are aware of the financial obligations involved.

During the registration process, it is essential to note that the higher amount between the guideline value and the sale price is considered for the calculation of duties. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shri Kumaran Nagar?

The current guideline value of Shri Kumaran Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This figure is crucial for property transactions in the area.

How has the guideline value changed over the years?

The guideline value for Shri Kumaran Nagar has seen an increase from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, representing a +10% change. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Shri Kumaran Nagar?

The land classification for Shri Kumaran Nagar is Residential Special Type - IV. This classification is important for determining the type of developments allowed in the area.

What are the stamp duty and registration fees for properties in Shri Kumaran Nagar?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Shri Kumaran Nagar?

The Chengleput Joint II Sub Registrar Office covers Shri Kumaran Nagar and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of property transactions in the area.