Guideline Value for KURAVAN KULAM STREET

Kuravan Kulam Street guideline value

The current guideline value of Kuravan Kulam Street 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 Street has changed

The guideline value for Kuravan Kulam Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 650 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in the 2017 revision. The 2023 revision saw a rise to Rs 2,000 per sq.ft, and the most recent 2024 revision has set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 238%. The revisions for the years 2002 and 2003 have no figures available for Kuravan Kulam Street in the register.

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. Kuravan Kulam Street's 2024 figure is below this median.

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

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, and the registration fee at 2% would be Rs 44,000, bringing the total charges 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.

You can use the stamp duty and registration fee calculator for a detailed calculation based on your property.

Which Sub Registrar Office covers Kuravan Kulam Street?

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

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

The guideline value is a crucial factor in the registration process of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property as per government standards. It is essential for buyers to be aware of the guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kuravan Kulam Street?

The current guideline value of Kuravan Kulam Street 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, showing an overall increase of 238% over the years.

What is the land classification for Kuravan Kulam Street?

Kuravan Kulam Street is classified as Residential Class V Type - II.

What are the stamp duty and registration fees for properties in Kuravan Kulam Street?

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.

Where is the Sub Registrar Office for Kuravan Kulam Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.