Guideline Value for SRI KUMARAN NAGAR

Sri Kumaran Nagar guideline value

The current guideline value of Sri Kumaran Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Eachankaranai village under the Chengleput Joint II SRO, classified as Industries Type - I.

How the guideline value of Sri Kumaran Nagar has changed

Looking at the historical revisions, the guideline value for Sri Kumaran Nagar has seen several changes. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 400 per sq.ft. The next revision in 2024 again maintained the value at Rs 400 per sq.ft, indicating a 0% change from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007.

Prior to 2012, the guideline value was Rs 268 per sq.ft in 2017, marking a significant increase of 49% when compared to the 2012 figure. However, from 2012 to 2017, there was a decrease of 33%. Overall, the guideline value from 2012 to 2024 has remained stable at Rs 400 per sq.ft.

Guideline values in Eachankaranai

In Eachankaranai, there are 10 streets under the Chengleput Joint II SRO that carry a guideline value for 2024, ranging from Rs 400 to Rs 2,000 per sq.ft. The median value among these streets is Rs 500 per sq.ft, placing Sri Kumaran Nagar below this median.

• Sree Baba Nagar: Rs 500 per sq.ft (2024)
• Sthiya Sai Nagar: Rs 400 per sq.ft (2024)
• Thirukumaran Nagar: Rs 500 per sq.ft (2024)
• Thirukuralnagar: Rs 500 per sq.ft (2024)
• Pristine Pavilion: Rs 400 per sq.ft (2024)
• Happy Valley: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kumaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total charges Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Kumaran Nagar?

Sri Kumaran Nagar falls under 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Eachankaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Kumaran Nagar?

The current guideline value of Sri Kumaran Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft since 2012, with a significant increase of 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023. There were no changes from 2023 to 2024.

What is the land classification for Sri Kumaran Nagar?

Sri Kumaran Nagar is classified as Industries Type - I, indicating its suitability for industrial development.

What are the other streets in Eachankaranai with guideline values?

Other streets in Eachankaranai include Sree Baba Nagar, Sthiya Sai Nagar, Thirukumaran Nagar, Thirukuralnagar, Pristine Pavilion, and Happy Valley, with values ranging from Rs 400 to Rs 2,000 per sq.ft.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Sri Kumaran Nagar.