Guideline Value for Sri Kumaran Nagar

Sri Kumaran Nagar guideline value

The current guideline value of Sri Kumaran Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Kumaran Nagar has changed

In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value significantly increased to Rs 1,800 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,900 per sq.ft in the 2024 revision, which represents a 6% rise from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from the 2012 revision to the 2024 revision, the change is an increase of 6%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthagaram

Puthagaram village has 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value for Sri Kumaran Nagar matches this median.

• Sri Kumaran Nagar Extn.: Rs 1,900 per sq.ft (2024)
• Sri Lakshmi amman Nagar: Rs 1,900 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,900 per sq.ft (2024)
• Sri Maha Devi Nagar: Rs 1,600 per sq.ft (2024)
• Sri Kamalam Nagar: Rs 1,900 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 1,600 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 1,900 per sq.ft, the total guideline value is Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Kumaran Nagar?

The Ambattur Sub Registrar Office covers Sri Kumaran Nagar. The office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Puthagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the higher of either the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Kumaran Nagar?

The current guideline value of Sri Kumaran Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, and then to Rs 1,800 per sq.ft in 2023, finally reaching Rs 1,900 per sq.ft in 2024.

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

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which Sub Registrar Office covers the registration for Sri Kumaran Nagar?

The Ambattur Sub Registrar Office covers Sri Kumaran Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Sri Kumaran Nagar?

Sri Kumaran Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.