Guideline Value for kumaran nagar 3 rd street

Kumaran Nagar 3 Rd Street guideline value

The current guideline value of Kumaran Nagar 3 Rd Street is Rs 4,400 per sq.ft. This street is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kumaran Nagar 3 Rd Street has changed

The guideline value for Kumaran Nagar 3 Rd Street has undergone several revisions over the years. The earliest recorded revision is from 2017, where the value was Rs 2,680 per sq.ft. In 2023, this figure increased to Rs 4,000 per sq.ft, marking a significant rise of 49%. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 4,400 per sq.ft, reflecting a further increase of 10% from the previous year.

It is important to note that there are no recorded figures for this street in the revisions from 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Ayanavaram

In Ayanavaram, there are 369 streets under the AnnaNagar SRO that carry a guideline value for 2024, with values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that Kumaran Nagar 3 Rd Street's 2024 figure is below this median.

• Kumaran Nagar 2nd Street (SlumBoard Allotment): Rs 3,300 per sq.ft (2024)
• Kumaran Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Kumaran Nagar Ist Street: Rs 3,300 per sq.ft (2024)
• Kumaran Nagar Ist Street (SlumBoard Allotment): Rs 3,300 per sq.ft (2024)
• Kumaran Nagar SlumBoard Allotment: Rs 3,300 per sq.ft (2024)
• Kunjitham Gurusamy Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaran Nagar 3 Rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, calculated at 7%, would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. 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 Kumaran Nagar 3 Rd Street?

The Sub Registrar Office that covers Kumaran Nagar 3 Rd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Ayanavaram as it determines the minimum price 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 that need to be paid during the registration process.

Buyers should be aware that the guideline value can affect the overall cost of purchasing a property, as these fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumaran Nagar 3 Rd Street?

The current guideline value of Kumaran Nagar 3 Rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Kumaran Nagar 3 Rd Street located?

The Sub Registrar Office for Kumaran Nagar 3 Rd Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the land classification for Kumaran Nagar 3 Rd Street?

The land classification for Kumaran Nagar 3 Rd Street is Residential Class II Type - I, indicating its designation for residential use.