Guideline Value for KURUNCHI NAGAR 8TH CROSS STREET

Kurunchi Nagar 8th Cross Street guideline value

The current guideline value of Kurunchi Nagar 8th 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 it falls under the Residential Class II Type - II land classification.

How the guideline value of Kurunchi Nagar 8th Cross Street has changed

The guideline value for Kurunchi Nagar 8th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 173 per sq.ft. This increased significantly to Rs 250 per sq.ft in 2003, marking a change of +45%. The value then rose dramatically to Rs 1,480 per sq.ft in 2007, a substantial increase of +492%. In 2012, the value adjusted to Rs 3,000 per sq.ft, reflecting a decrease of -33%. The 2017 revision set the value at Rs 2,010 per sq.ft, which was a +49% increase from the previous figure. The most recent revision in 2023 brought the guideline value to Rs 3,000 per sq.ft, before reaching the current value of Rs 3,300 per sq.ft in 2024, an increase of +10%.

There are no figures available for the revisions of Kurunchi Nagar 8th Cross Street in the years not mentioned in the register.

Guideline values in Perungudi

In Perungudi village, 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 is equal to the current guideline value of Kurunchi Nagar 8th Cross Street.

• Kurunchi Nagar 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 5th 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 8th 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, and the registration fee at 2% would be Rs 66,000, together totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kurunchi Nagar 8th Cross Street?

The Sub Registrar Office that covers Kurunchi Nagar 8th 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 crucial factor during the registration process of property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kurunchi Nagar 8th Cross Street?

The current guideline value of Kurunchi Nagar 8th 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 increased from Rs 173 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of +1808% over the years.

What are the stamp duty and registration fees for properties in Kurunchi Nagar 8th Cross Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total cost for these fees would be Rs 2,97,000.

Which office handles property registrations in Kurunchi Nagar 8th Cross Street?

The Neelankarai Sub Registrar Office handles property registrations for Kurunchi Nagar 8th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the range of guideline values for streets in Perungudi?

The guideline values for streets in Perungudi range from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft, which is the same as the current value for Kurunchi Nagar 8th Cross Street.