Guideline Value for Sri Kumaran Nagar Extn.

Sri Kumaran Nagar Extn. guideline value

The current guideline value for Sri Kumaran Nagar Extn. is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village under the Ambattur SRO and is classified as Residential Class I Type - I.

How the guideline value of Sri Kumaran Nagar Extn. has changed

The guideline value for Sri Kumaran Nagar Extn. has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which decreased to Rs 1,206 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then to Rs 1,900 per sq.ft in 2024, marking a 6% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. However, there were no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Puthagaram

In Puthagaram, there are 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value is Rs 1,900 per sq.ft, which is equal to the current value of Sri Kumaran Nagar Extn.

• Sri Lakshmi amman Nagar: Rs 1,900 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 1,900 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,900 per sq.ft (2024)
• Sri Maha Devi Nagar: Rs 1,600 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 1,600 per sq.ft (2024)
• Sri Kamalam Nagar: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kumaran Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. Please note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Kumaran Nagar Extn.?

The Sri Kumaran Nagar Extn. area is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Sri Kumaran Nagar Extn.?

The current guideline value for Sri Kumaran Nagar Extn. is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft property at the current guideline value, the total guideline value would be Rs 19,00,000. The stamp duty would be Rs 1,33,000, and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which Sub Registrar Office handles registrations for this area?

The Ambattur Sub Registrar Office covers Sri Kumaran Nagar Extn., located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Sri Kumaran Nagar Extn.?

Sri Kumaran Nagar Extn. is classified as Residential Class I Type - I according to the guideline value register.