Guideline Value for KURUNCHI NAGAR 1ST STREET

Kurunchi Nagar 1st Street guideline value

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

The guideline value for Kurunchi Nagar 1st Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,480 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value decreased to Rs 2,010 per sq.ft in the 2017 revision. The 2023 revision saw a rise to Rs 3,000 per sq.ft, and the most recent 2024 revision established the current guideline value at Rs 3,300 per sq.ft.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall change from 2007 to 2024 reflects a 123% increase. Notably, there are no figures available for the years 2002 and 2003 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, with a median of Rs 3,300 per sq.ft. The guideline value for Kurunchi Nagar 1st Street aligns with this median.

• Kurunchi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kurunchi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to 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.

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

Which Sub Registrar Office covers Kurunchi Nagar 1st Street?

The Sub Registrar Office that covers Kurunchi Nagar 1st 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 crucial factor in the registration process of property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is sold, the guideline value is assessed to ensure that the transaction is registered at a value that reflects the current market conditions. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

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

The current guideline value of Kurunchi Nagar 1st 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 1,480 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 123% over this period.

What is the land classification for Kurunchi Nagar 1st Street?

Kurunchi Nagar 1st Street is classified as Residential Class II Type - II.

Which Sub Registrar Office covers this street?

The Neelankarai Sub Registrar Office covers Kurunchi Nagar 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Kurunchi Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.