Guideline Value for Sri Kumaran Nagar

Sri Kumaran Nagar guideline value

The current guideline value for Sri Kumaran Nagar, located in Arambakkam village under the Gooduvancheri SRO, is Rs 600 per sq.ft. This value is effective from 1 July 2024 and is classified as Residential Special Type - I.

How the guideline value of Sri Kumaran Nagar has changed

Over the years, the guideline value for Sri Kumaran Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision. The 2017 revision recorded a lower value of Rs 402 per sq.ft, marking a decrease of 33% from the 2012 figure. From 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 600 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

It is important to note that the register has no figure for Sri Kumaran Nagar for the years 2002, 2003, and 2007. Thus, the only revisions available for this street are from 2012, 2017, 2023, and 2024, with the current value reflecting stability since 2012.

Guideline values in Arambakkam

In Arambakkam, there are 33 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 800 per sq.ft. The median value across these streets is Rs 600 per sq.ft, which is equal to the guideline value for Sri Kumaran Nagar.

• Sri Lakshmi Hayagrevar Nagar: Rs 800 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 600 per sq.ft (2024)
• Sri Ellai Amman Nagar: Rs 500 per sq.ft (2024)
• Sri Raghuraman Nagar: Rs 600 per sq.ft (2024)
• Sri Sai Green Homes: Rs 800 per sq.ft (2024)
• Sri Sai Muruga Garden: Rs 600 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total cost for these fees Rs 54,000. 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?

The Sub Registrar Office that covers Sri Kumaran Nagar is the Gooduvancheri Sub Registrar Office, 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 Arambakkam

The guideline value is a crucial factor in the registration process of property transactions in Arambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the fair valuation of the property. It is essential to consider the guideline value when negotiating the sale price to ensure compliance with registration regulations.

Frequently asked questions

What is the current guideline value for Sri Kumaran Nagar?

The current guideline value for Sri Kumaran Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Kumaran Nagar has remained at Rs 600 per sq.ft since 2012, with a decrease to Rs 402 per sq.ft in 2017, followed by an increase back to Rs 600 per sq.ft in 2023 and 2024.

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

Other streets in Arambakkam include Sri Lakshmi Hayagrevar Nagar at Rs 800 per sq.ft, Sri Lakshmi Nagar and Sri Raghuraman Nagar both at Rs 600 per sq.ft, Sri Ellai Amman Nagar at Rs 500 per sq.ft, and Sri Sai Green Homes at Rs 800 per sq.ft.

What fees are associated with buying property in Sri Kumaran Nagar?

When buying property in Sri Kumaran Nagar, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 54,000.

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

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