Guideline Value for KURUNCHI NAGAR 11TH CROSS STREET

Kurunchi Nagar 11th Cross Street guideline value

The current guideline value of Kurunchi Nagar 11th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kurunchi Nagar 11th Cross Street has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 173 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a rise of 45%. The value then surged dramatically to Rs 1,480 per sq.ft in 2007, reflecting a substantial increase of 492%. Following this, the guideline value reached Rs 3,000 per sq.ft in 2012, which was a 103% increase from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33% before rising again to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

The overall change from 2002 to 2024 is a remarkable increase of 1,808%. There are no figures available for revisions in years not mentioned in the register for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Kurunchi Nagar 11th Cross Street.

• Kurunchi Nagar 10th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 12th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Kuruchi Nagar Annexe: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 15th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kurunchi Nagar 11th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kurunchi Nagar 11th Cross Street?

The Sub Registrar Office that covers Kurunchi Nagar 11th Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued during the transaction.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kurunchi Nagar 11th Cross Street?

The current guideline value of Kurunchi Nagar 11th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 173 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 1,808% over the years.

What are the stamp duty and registration fees for properties in Kurunchi Nagar 11th Cross Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Kurunchi Nagar 11th Cross Street?

The Neelankarai Sub Registrar Office handles the registration for Kurunchi Nagar 11th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Kurunchi Nagar 11th Cross Street?

Kurunchi Nagar 11th Cross Street is classified as Residential Class II Type - II, indicating its designated use for residential purposes.