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 Sattamangalam 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 (Ward -8) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was later reduced to Rs 804 per sq.ft in the 2017 revision. The value increased significantly to Rs 1,200 per sq.ft in the 2023 revision and has now risen to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, the value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. Overall, the guideline value has increased by 10% from the 2012 figure to the current 2024 figure.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Kuravanji Street's current value above this median.

• Kundalakesi Street (N): Rs 1,320 per sq.ft (2024)
• K V Vines Nagar (Sa): Rs 660 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 550 per sq.ft (2024)
• Kulakkarai Street Old (Ward -18): Rs 550 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 amounts to Rs 13,20,000. The stamp duty is charged at 7%, which totals Rs 92,400, and the registration fee is charged at 2%, amounting to Rs 26,400. Together, the total fees would be 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 also use the stamp duty and registration fee calculator for more precise calculations.

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, 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 Sattamangalam

The guideline value plays a crucial role during the registration of property transactions in Sattamangalam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the current guideline value, as it directly affects the financial obligations associated with the registration process. Buyers and sellers should ensure that they are informed about the latest figures to avoid any discrepancies during 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 several times, with the most recent increase of 10% from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification for Kuravanji Street (Ward -8)?

The land classification for Kuravanji Street (Ward -8) is Residential Special Type - V, indicating its designated use for residential purposes.

Where is the Chengleput Joint II Sub Registrar Office located?

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

How are stamp duty and registration fees calculated for properties in Kuravanji Street (Ward -8)?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. The total fees are based on the higher of the guideline value or the sale price.