Guideline Value for KURUNJI NAGAR

Kurunji Nagar guideline value

The current guideline value of Kurunji Nagar is Rs 151 per sq.ft, effective from 1 July 2024. This area is located in Kumaravadi village, under the jurisdiction of the Salavakkam SRO, and is classified as a New House Site Type -III (Approved Lay-Out).

How the guideline value of Kurunji Nagar has changed

Looking at the historical revisions, the guideline value for Kurunji Nagar was Rs 150 per sq.ft in 2023, which increased by 1% to Rs 151 per sq.ft in the 2024 revision. Prior to that, in 2017, the value was Rs 100 per sq.ft, marking a significant increase of 50% over the next six years.

In 2012, the guideline value was Rs 150 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has seen a marginal increase of 1%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kumaravadi

In Kumaravadi village, five streets under the Salavakkam SRO have a 2024 guideline value ranging from Rs 150 to Rs 700 per sq.ft, with the median being Rs 151 per sq.ft. Kurunji Nagar's current guideline value aligns with this median.

• Krishna Nagar: Rs 150 per sq.ft (2024)
• Muthu Nagar: Rs 151 per sq.ft (2024)
• Police Staff Residency: Rs 151 per sq.ft (2024)
• Amber: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Kurunji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 151 per sq.ft, the total guideline value amounts to Rs 1,51,000. The stamp duty at 7% would be Rs 10,570, and the registration fee at 2% would be Rs 3,020, bringing the total cost for these fees to Rs 13,590. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kurunji Nagar?

The Sub Registrar Office that covers Kurunji Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kumaravadi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Kurunji Nagar?

The current guideline value of Kurunji Nagar is Rs 151 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2023 to Rs 151 per sq.ft in 2024. It was Rs 100 per sq.ft in 2017, and Rs 150 per sq.ft in 2012.

What is the land classification for Kurunji Nagar?

Kurunji Nagar is classified as a New House Site Type -III (Approved Lay-Out) under the Salavakkam SRO.

What are the stamp duty and registration fees for a property in Kurunji Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 13,590.

Where is the Sub Registrar Office for Kurunji Nagar located?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.