Guideline Value for kumarasamy nagar

Kumarasamy Nagar guideline value

The current guideline value of Kumarasamy Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Nenmeli village, under the Chengleput Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kumarasamy Nagar has changed

In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. However, in the subsequent 2017 revision, it decreased to Rs 335 per sq.ft, marking a decline of 33%. The value then saw a significant increase to Rs 500 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 500 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nenmeli

Nenmeli village features 53 streets under the Chengleput Joint I SRO, with guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value is Rs 612 per sq.ft, placing Kumarasamy Nagar's 2024 figure below this median.

• Kumarasami Nagar Part - II: Rs 500 per sq.ft (2024)
• Lake Avenue: Rs 800 per sq.ft (2024)
• M.V.R.Garden: Rs 1,045 per sq.ft (2024)
• Nbj Avenue: Rs 1,195 per sq.ft (2024)
• Nsr காலனி: Rs 612 per sq.ft (2024)
• Ford Union City: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumarasamy Nagar?

The Kumarasamy Nagar area is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Nenmeli, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price meets or exceeds the guideline value to avoid complications. This value serves as a benchmark for both buyers and sellers, ensuring that transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Kumarasamy Nagar?

The current guideline value of Kumarasamy Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 500 per sq.ft in both 2023 and 2024, after a decline to Rs 335 per sq.ft in 2017 from Rs 500 per sq.ft in 2012.

What is the median guideline value in Nenmeli?

The median guideline value in Nenmeli is Rs 612 per sq.ft, which is higher than the current guideline value of Kumarasamy Nagar.

What are the registration fees for property in Kumarasamy Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2%, calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Kumarasamy Nagar?

The Chengleput Joint I Sub Registrar Office handles registrations for Kumarasamy Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.