Guideline Value for KURUNCHI NAGAR 3RD CROSS STREET

Kurunchi Nagar 3rd Cross Street guideline value

The current guideline value of Kurunchi Nagar 3rd 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 3rd Cross Street has changed

The guideline value for Kurunchi Nagar 3rd 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. Following that, there was a significant rise to Rs 1,480 per sq.ft in 2007, and by 2012, it reached Rs 3,000 per sq.ft. However, the value dropped to Rs 2,010 per sq.ft in 2017 before climbing to Rs 3,000 per sq.ft in 2023.

The most recent revision in 2024 saw the guideline value rise to Rs 3,300 per sq.ft, marking a 10% increase from the previous year's figure. 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, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Kurunchi Nagar 3rd Cross Street.

• Kurunchi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kurunchi Nagar 3rd 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 or the sale price.

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

Which Sub Registrar Office covers Kurunchi Nagar 3rd Cross Street?

The Sub Registrar Office that covers Kurunchi Nagar 3rd 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 critical factor during the registration of property transactions in Perungudi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When buying or selling property, the guideline value helps both parties understand the minimum value for taxation purposes. It is essential to be aware that the stamp duty is charged on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Kurunchi Nagar 3rd Cross Street?

The current guideline value of Kurunchi Nagar 3rd 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, showcasing a significant increase over the years, with various revisions in between.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

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 as a reference point for calculating stamp duty and registration fees during property transactions. It ensures that both buyers and sellers have a clear understanding of the minimum value for taxation purposes.