Guideline Value for SRI KUMARAN NAGAR

Sri Kumaran Nagar guideline value

The current guideline value of Sri Kumaran Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Minjur village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Kumaran Nagar has changed

The guideline value for Sri Kumaran Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 has further raised the value to Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with the median value being Rs 550 per sq.ft. The guideline value for Sri Kumaran Nagar matches this median.

• Sri Kamala Nagar: Rs 550 per sq.ft (2024)
• Sri Murali Nagar: Rs 880 per sq.ft (2024)
• Sri Janakirathina Nagar: Rs 880 per sq.ft (2024)
• Sri Haya Greevar Nagar: Rs 550 per sq.ft (2024)
• Srinivasa Nagar: Rs 550 per sq.ft (2024)
• Sri Devi Nagar: Rs 880 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Ponneri Sub Registrar Office located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Minjur. 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 buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration office uses this value to calculate the applicable charges, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sri Kumaran Nagar?

The current guideline value of Sri Kumaran Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What are the other streets in Minjur with their guideline values?

Other streets in Minjur include Sri Kamala Nagar and Sri Haya Greevar Nagar, both at Rs 550 per sq.ft, and Sri Murali Nagar and Sri Janakirathina Nagar, both at Rs 880 per sq.ft for 2024.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of properties in the area.

How is stamp duty calculated in Sri Kumaran Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would amount to Rs 38,500.