Guideline Value for KURAVANJI STREET (WARD -8)

Kuravanji Street (Ward -8) guideline value

The current guideline value of Kuravanji Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Kuravanji Street (Ward -8) has changed

The guideline value for Kuravanji Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. In 2023, the value increased significantly to Rs 1,200 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Kuravanji Street's 2024 figure above this median.

• Kundalakesi Street (N): Rs 1,320 per sq.ft (2024)
• K V Vines Nagar (Sa): Rs 550 per sq.ft (2024)
• Kumaranar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Kumaragurubarar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Kulakkarai Street (Ward -17): Rs 660 per sq.ft (2024)
• Kulakkarai Street Old (Ward -18): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kuravanji Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost Rs 1,18,800. 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 more details.

Which Sub Registrar Office covers Kuravanji Street (Ward -8)?

The Sub Registrar Office that covers Kuravanji Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Peramanoor. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for any property transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value helps determine the official value of the property for registration purposes. This value is used to calculate the applicable taxes and fees, ensuring that both parties are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Kuravanji Street (Ward -8)?

The current guideline value of Kuravanji Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Kuravanji Street?

The land classification for Kuravanji Street (Ward -8) is Residential Special Type - V.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kuravanji Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 13,20,000, leading to a stamp duty of Rs 92,400.