Guideline Value for Sri Kumaran Nagar Part-II

Sri Kumaran Nagar Part-II guideline value

The current guideline value of Sri Kumaran Nagar Part-II is Rs 1,000 per sq.ft, as per the 2023 revision. This area falls under Ponmar village, governed by the Gooduvancheri Sub Registrar Office (SRO). The land classification for this locality is Residential Special Type - II.

How the guideline value of Sri Kumaran Nagar Part-II has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 100 per sq.ft, which increased dramatically to Rs 1,000 per sq.ft in the 2012 revision, marking a 900% increase. However, in the 2017 revision, the value dropped to Rs 670 per sq.ft, a decrease of 33%. The most recent revision in 2023 brought the value back up to Rs 1,000 per sq.ft, resulting in a 49% increase from 2017. Overall, from 2007 to 2023, the guideline value has increased by 900%.

The register does not provide figures for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Ponmar

Currently, there are no specific village figures available for Ponmar. Sri Kumaran Nagar Part-II is one of the areas under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Sri Kumaran Nagar Part-II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the guideline value totals Rs 10,00,000. The stamp duty is charged at 7%, which amounts to Rs 70,000, and the registration fee is 2%, totaling Rs 20,000. Together, the total cost for stamp duty and registration fee is Rs 90,000. It is important to note that the 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 Part-II?

The Gooduvancheri Sub Registrar Office covers Sri Kumaran Nagar Part-II. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Ponmar. It is used to calculate the stamp duty and registration fees, which are mandatory when transferring property ownership.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, which is important for both buyers and sellers. It helps in determining the legal obligations and the financial responsibilities involved in the property transaction.

Frequently asked questions

What is the current guideline value of Sri Kumaran Nagar Part-II?

The current guideline value of Sri Kumaran Nagar Part-II is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 100 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and finally returned to Rs 1,000 per sq.ft in 2023.

What are the stamp duty and registration fees for property in Sri Kumaran Nagar Part-II?

For a property valued at Rs 10,00,000, the stamp duty is Rs 70,000 and the registration fee is Rs 20,000, totaling Rs 90,000. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers this area?

Sri Kumaran Nagar Part-II is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Are there other streets in Ponmar with guideline values?

No specific figures for other streets in Ponmar are provided, and Sri Kumaran Nagar Part-II is the only area mentioned under the Gooduvancheri SRO.