Guideline Value for KURUNCHI NAGAR 12TH CROSS STREET

Kurunchi Nagar 12th Cross Street guideline value

The current guideline value for Kurunchi Nagar 12th 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, classified as Residential Class II Type - II.

How the guideline value of Kurunchi Nagar 12th Cross Street has changed

The guideline value for Kurunchi Nagar 12th Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 173 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a rise of 45%. The value continued to rise significantly, reaching Rs 1,480 per sq.ft in 2007, an increase of 492%. By 2012, the value had risen to Rs 3,000 per sq.ft, reflecting a 103% increase from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 3,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,808%.

Guideline values in Perungudi

In Perungudi village, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Kurunchi Nagar 12th Cross Street at the median level for 2024.

• Kurunchi Nagar 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 10th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kurunchi Nagar 12th 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. Please 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 12th Cross Street?

The Sub Registrar Office that covers Kurunchi Nagar 12th 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the transaction is documented according to the prevailing rates set by the government.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and fairness in property transactions, as both buyers and sellers are aware of the baseline value established by the relevant authorities.

Frequently asked questions

What is the current guideline value for Kurunchi Nagar 12th Cross Street?

The current guideline value for Kurunchi Nagar 12th 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 increased from Rs 173 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,808% over the years.

What is the land classification for Kurunchi Nagar 12th Cross Street?

Kurunchi Nagar 12th Cross Street is classified as Residential Class II Type - II.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Kurunchi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.