Guideline Value for KURUNCHI NAGAR 1ST CROSS STREET

Kurunchi Nagar 1st Cross Street guideline value

The current guideline value of Kurunchi Nagar 1st 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 1st Cross Street has changed

The guideline value for Kurunchi Nagar 1st Cross Street has undergone several revisions over the years. The earliest recorded figure in the register is from 2002, where the value was Rs 173 per sq.ft. This increased significantly to Rs 250 per sq.ft in 2003, marking a 45% rise. The value then saw a substantial increase of 492% to reach Rs 1,480 per sq.ft in 2007. Following this, the value rose to Rs 3,000 per sq.ft in 2012, which was a 103% increase. However, the value decreased by 33% to Rs 2,010 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available in the register for the years not listed. Overall, the guideline value has increased by 1,808% from 2002 to 2024.

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 2024 figure for Kurunchi Nagar 1st Cross Street.

• Kurunchi Nagar 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kurunchi Nagar 1st 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, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kurunchi Nagar 1st Cross Street?

The Sub Registrar Office that covers Kurunchi Nagar 1st 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 details.

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

The guideline value is a critical factor during the registration of property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer approaches the registration office, the guideline value is assessed to calculate the applicable fees. This ensures that the transaction is documented accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Kurunchi Nagar 1st Cross Street?

The current guideline value of Kurunchi Nagar 1st 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, showing a significant overall increase of 1,808%.

What is the registration fee for property in Kurunchi Nagar 1st Cross Street?

The registration fee is 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

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 guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is assessed at the time of registration to ensure compliance with local regulations.