Guideline Value for Sri Kumaran Nagar

Sri Kumaran Nagar guideline value

The current guideline value of Sri Kumaran Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village and falls under the Pammal SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Sri Kumaran Nagar has changed

The guideline value for Sri Kumaran Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, an increase from Rs 1,800 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,206 per sq.ft, which means there was a significant increase of +49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by +64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, which ranges from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Sri Kumaran Nagar's 2024 guideline value below this median.

• Sri Lakshmi Nagar Extn.: Rs 2,750 per sq.ft (2024)
• Sri Lakshmi Nagar (ward 5): Rs 2,750 per sq.ft (2024)
• Sri Kamaladevi Nagar: Rs 1,650 per sq.ft (2024)
• Sri Puram: Rs 1,980 per sq.ft (2024)
• Smk Maansarovar Nagar: Rs 2,200 per sq.ft (2024)
• Sivasakthi Nagar: Rs 1,980 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, charged at 7%, would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sri Kumaran Nagar?

The Sub Registrar Office that covers Sri Kumaran Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Kerugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Kumaran Nagar?

The current guideline value of Sri Kumaran Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of +64% over this period.

What are the stamp duty rates for property in Sri Kumaran Nagar?

The stamp duty for property transactions in Sri Kumaran Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

What is the range of guideline values for other streets in Kerugambakkam?

The guideline values for other streets in Kerugambakkam range from Rs 1,100 to Rs 4,800 per sq.ft as per the 2024 revision, with a median value of Rs 2,200 per sq.ft.