Guideline Value for KURINJI NAGAR

Kurinji Nagar guideline value

The current guideline value of Kurinji Nagar, located in Nemilicherry village under the Pallavaram SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Kurinji Nagar has changed

The guideline value for Kurinji Nagar has seen several revisions over the years. In 2012, the value was set at Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,200 per sq.ft in 2023, and further rose to Rs 2,420 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, placing Kurinji Nagar's 2024 value above this median.

• Kurathiamman Koil Street: Rs 2,160 per sq.ft (2024)
• Kurathiamman Koil Cross Street: Rs 2,160 per sq.ft (2024)
• Kuppu Naicken Pettai: Rs 2,160 per sq.ft (2024)
• Kuppan Street: Rs 2,160 per sq.ft (2024)
• Lake View Colony: Rs 2,200 per sq.ft (2024)
• Lake View Slum: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Kurinji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kurinji Nagar?

Kurinji Nagar falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Nemilicherry. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions reflect a fair valuation as per the government standards.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Kurinji Nagar?

The current guideline value of Kurinji Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

What is the land classification of Kurinji Nagar?

Kurinji Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Kurinji Nagar?

The Sub Registrar Office covering Kurinji Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for property in Kurinji Nagar?

Stamp duty for property in Kurinji Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 at 7%.