Guideline Value for KURUNCHI NAGAR 2ND CROSS STREET

Kurunchi Nagar 2nd Cross Street guideline value

The current guideline value of Kurunchi Nagar 2nd 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 2nd Cross Street has changed

The guideline value for Kurunchi Nagar 2nd Cross Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 173 per sq.ft, which increased to Rs 250 per sq.ft in 2003. The value saw a substantial rise to Rs 1,480 per sq.ft in 2007, followed by a significant increase to Rs 3,000 per sq.ft in 2012. However, it then decreased 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 finally, to Rs 3,300 per sq.ft in 2024.

In terms of changes, the guideline value increased by 45% from 2002 to 2003, followed by a remarkable 492% rise from 2003 to 2007. The value then increased by 103% from 2007 to 2012, but saw a decrease of 33% from 2012 to 2017. From 2017 to 2023, there was a significant increase of 49%, and the latest revision from 2023 to 2024 reflects a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1,808%.

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 guideline value is Rs 3,300 per sq.ft, which aligns with the current value of Kurunchi Nagar 2nd Cross Street.

• Kurunchi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kurunchi Nagar 2nd 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 amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kurunchi Nagar 2nd Cross Street?

The Neelankarai Sub Registrar Office covers Kurunchi Nagar 2nd Cross Street. The office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is an important factor in the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kurunchi Nagar 2nd Cross Street?

The current guideline value of Kurunchi Nagar 2nd 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 significantly 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 this period.

What are the other streets in Perungudi with the same guideline value?

Other streets in Perungudi that have the same guideline value of Rs 3,300 per sq.ft in 2024 include Kurunchi Nagar 1st Street, Kurunchi Nagar 3rd Cross Street, Kurunchi Nagar 1st Cross Street, Kurunchi Nagar 4th Cross Street, Kurunchi Nagar 15th Cross Street, and Kurunchi Nagar 5th Cross Street.

What is the registration fee for a property in Kurunchi Nagar 2nd Cross Street?

The registration fee for a property in Kurunchi Nagar 2nd Cross Street is calculated at 2% of the guideline value. For example, 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.