Guideline Value for KURUNCHI NAGAR 7TH CROSS STREET

Kurunchi Nagar 7th Cross Street guideline value

The current guideline value of Kurunchi Nagar 7th 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 7th Cross Street has changed

The guideline value for Kurunchi Nagar 7th Cross Street has seen several revisions over the years. In 2002, the value was Rs 173 per sq.ft, which increased to Rs 250 per sq.ft in 2003, marking a change of +45%. Following this, the value surged significantly to Rs 1,480 per sq.ft in 2007, representing a remarkable increase of +492%. The value then rose to Rs 3,000 per sq.ft in 2012, an increase of +103%. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, showing a decline of -33%. The value climbed again to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in 2024, with a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +1808%. There are no figures available for the years not listed 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. The median value is Rs 3,300 per sq.ft, which matches the current guideline value of Kurunchi Nagar 7th Cross Street.

• Kurunchi Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 4th 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 7th 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 at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kurunchi Nagar 7th Cross Street?

The Sub Registrar Office that covers Kurunchi Nagar 7th 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

When buying or selling property in Perungudi, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

The guideline value helps maintain transparency in property transactions, as it reflects the government's valuation of the property based on various factors. This ensures that buyers and sellers have a clear understanding of the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Kurunchi Nagar 7th Cross Street?

The current guideline value of Kurunchi Nagar 7th 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, reflecting an overall increase of +1808% over the years.

What is the land classification for Kurunchi Nagar 7th Cross Street?

Kurunchi Nagar 7th Cross Street is classified as Residential Class II Type - II.

Where can I find the Neelankarai Sub Registrar Office?

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 7th Cross Street?

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