Guideline Value for Sri Kumaran Nagar

Sri Kumaran Nagar guideline value

The current guideline value of Sri Kumaran Nagar is Rs 1,000 per sq.ft, as per the 2023 revision. This area is located in Ponmar village and falls under the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Sri Kumaran Nagar has changed

The guideline value of Sri Kumaran Nagar has undergone several revisions over the years. In 2007, the guideline value was set at Rs 100 per sq.ft. This figure saw a substantial increase in 2012, where it rose to Rs 1,000 per sq.ft, marking a 900% increase. However, in 2017, the value decreased to Rs 670 per sq.ft, representing a decline of 33%. The most recent revision in 2023 brought the guideline value back up to Rs 1,000 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, from 2007 to 2023, the guideline value has increased by 900%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Ponmar

Currently, there are no specific guideline values provided for other streets in Ponmar under the Gooduvancheri SRO. Therefore, the guideline value of Sri Kumaran Nagar stands alone in this context.

Stamp duty and registration fee for property in Sri Kumaran Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty, charged at 7%, would be Rs 70,000, while the registration fee at 2% would be Rs 20,000. Together, the total cost for stamp duty and registration fee would be Rs 90,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ponmar. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from 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 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, followed by a decrease to Rs 670 per sq.ft in 2017, and then back to Rs 1,000 per sq.ft in 2023.

What is the land classification for Sri Kumaran Nagar?

The land classification for Sri Kumaran Nagar is Residential Special Type - II, indicating its designated purpose for residential development.

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

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. This is calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Sri Kumaran Nagar?

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