Guideline Value for KURINJI STREET VGP SHANTHI NAGAR

Kurinji Street Vgp Shanthi Nagar guideline value

The current guideline value of Kurinji Street Vgp Shanthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Kurinji Street Vgp Shanthi Nagar has changed

The guideline value for Kurinji Street Vgp Shanthi Nagar has seen several revisions over the years. The 2012 revision set the guideline value at Rs 2,500 per sq.ft, which remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

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

Guideline values in Pallikaranai

In Pallikaranai, there are a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Kurinji Street Vgp Shanthi Nagar above this median.

• Labour Colony 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Labour Colony 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Labour Colony 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Labour Colony 4th Cross Street: Rs 1,650 per sq.ft (2024)
• Labour Colony 5th Cross Street: Rs 1,650 per sq.ft (2024)
• Labour Colony 6th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kurinji Street Vgp Shanthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kurinji Street Vgp Shanthi Nagar?

The Sub Registrar Office that covers Kurinji Street Vgp Shanthi Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pallikaranai. It serves as a baseline for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Kurinji Street Vgp Shanthi Nagar?

The current guideline value of Kurinji Street Vgp Shanthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. There were no changes recorded for this street in the years 2003, 2007, and 2017.

What is the land classification for Kurinji Street Vgp Shanthi Nagar?

Kurinji Street Vgp Shanthi Nagar is classified as Residential Special Type - I, indicating its designation for residential use within the area.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,50,000, the total fees would amount to Rs 2,47,500.

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

The Sub Registrar Office covering Kurinji Street Vgp Shanthi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.