Guideline Value for Sri Kumaran Nagar

Sri Kumaran Nagar guideline value

The current guideline value of Sri Kumaran Nagar, located in Navaloor village under the Sriperumpudur SRO, is Rs 450 per sq.ft, effective from 1 July 2024. The land classification for this area is New House Site Type -II (Unapproved Lay-Out).

How the guideline value of Sri Kumaran Nagar has changed

Over the years, the guideline value of Sri Kumaran Nagar has undergone several revisions. The 2012 revision set the value at Rs 450 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 301 per sq.ft. However, from 2017 to 2023, the value increased by 50% to Rs 450 per sq.ft, and it has remained the same in the 2024 revision, showing no change from the previous year.

It is worth noting that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen no change, remaining at Rs 450 per sq.ft.

Guideline values in Navaloor

In Navaloor, there are 26 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 150 to Rs 1,100 per sq.ft. The median value of these streets is Rs 300 per sq.ft, placing Sri Kumaran Nagar's 2024 figure above that median.

• Sriperumpudur Royal Lands Co-Op Maha Nagar: Rs 610 per sq.ft (2024)
• Sivam Nagar Part -II: Rs 500 per sq.ft (2024)
• Sivam Nagar: Rs 450 per sq.ft (2024)
• Sipcot Industries estate: Rs 600 per sq.ft (2024)
• Thirupathi Nagar: Rs 300 per sq.ft (2024)
• RPG Metro City: Rs 300 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 450 per sq.ft, the total guideline value amounts to Rs 4,50,000. The stamp duty at 7% would be Rs 31,500, and the registration fee at 2% would be Rs 9,000, bringing the total cost for these fees to Rs 40,500. It is important to note that the duty is charged on the higher of the guideline value and 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Navaloor, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the financial aspects of property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sri Kumaran Nagar?

The current guideline value of Sri Kumaran Nagar is Rs 450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 450 per sq.ft since 2012, with a decrease to Rs 301 per sq.ft in 2017 and an increase back to Rs 450 per sq.ft in 2023. There have been no changes from 2023 to 2024.

What is the land classification for Sri Kumaran Nagar?

Sri Kumaran Nagar is classified as New House Site Type -II (Unapproved Lay-Out).

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

For a 1,000 sq.ft plot, the total guideline value is Rs 4,50,000. The stamp duty at 7% amounts to Rs 31,500, and the registration fee at 2% is Rs 9,000, totaling Rs 40,500 for these fees.

Where is the Sub Registrar Office for Sri Kumaran Nagar located?

The Sub Registrar Office for Sri Kumaran Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.