Guideline Value for KURAVAN KULAM 2ND LANE

Kuravan Kulam 2nd Lane guideline value

The current guideline value of Kuravan Kulam 2nd Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class V Type - II.

How the guideline value of Kuravan Kulam 2nd Lane has changed

The guideline value for Kuravan Kulam 2nd Lane has seen several revisions over the years. In 2007, the value was Rs 650 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 208%. However, this value decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 238%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value for Kuravan Kulam 2nd Lane is below this median.

• Kuravan Kulam 1st Lane: Rs 2,200 per sq.ft (2024)
• Kuravan Kulam 3rd Lane: Rs 2,200 per sq.ft (2024)
• Kuravankulam Lane: Rs 2,200 per sq.ft (2024)
• Kuravan Kulam Street: Rs 2,200 per sq.ft (2024)
• Kutpat Pallam: Rs 4,400 per sq.ft (2024)
• Kutpat Pallam 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kuravan Kulam 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Kuravan Kulam 2nd Lane?

The Sub Registrar Office that covers Kuravan Kulam 2nd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate applicable stamp duties and registration fees. This ensures that the government receives the correct revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Kuravan Kulam 2nd Lane?

The current guideline value for Kuravan Kulam 2nd Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 238% over the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Kuravan Kulam 2nd Lane?

The Purasaivakkam Sub Registrar Office handles registrations for Kuravan Kulam 2nd Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Kuravan Kulam 2nd Lane?

Kuravan Kulam 2nd Lane is classified as Residential Class V Type - II according to local regulations.