Guideline Value for Kundu Medu

Kundu Medu guideline value

The current guideline value of Kundu Medu, located in Perungalathur village under the Padappai SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Kundu Medu has changed

The guideline value for Kundu Medu has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 350 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in 2012, marking a substantial rise of 414%. However, the value saw a decline to Rs 1,206 per sq.ft in 2017, a decrease of 33%. The most recent revisions show an increase to Rs 1,800 per sq.ft in 2023, followed by the current value of Rs 1,980 per sq.ft in 2024, reflecting a 10% rise.

There are no recorded figures for the years 2002 and 2003 for Kundu Medu. From 2007 to 2024, the overall change in guideline value is an increase of 466%, indicating a significant upward trend in the valuation of this area.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Kundu Medu's current guideline value below this median.

• Kumarappa Salai: Rs 2,640 per sq.ft (2024)
• Kurinchi Nagar Saranga Avenue Link Road: Rs 3,960 per sq.ft (2024)
• Kurinji Nagar: Rs 2,970 per sq.ft (2024)
• Kurinji Nagar Extension: Rs 2,970 per sq.ft (2024)
• Kumaran Nagar - S.No.270/2: Rs 2,310 per sq.ft (2024)
• Lake Park View I: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kundu Medu

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty is calculated at 7%, resulting in Rs 1,38,600, while the registration fee at 2% amounts to Rs 39,600. Together, the total cost for duty and registration is Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kundu Medu?

Kundu Medu falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction complies with government regulations.

When a property is sold, the guideline value helps establish a fair price for taxation purposes. Buyers should be aware that the stamp duty is calculated based on the higher value between the guideline value and the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kundu Medu?

The current guideline value of Kundu Medu is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting a significant overall increase of 466%.

What is the registration office for Kundu Medu?

Kundu Medu is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Kundu Medu?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,38,600.

What other streets have guideline values in Perungalathur?

Other streets in Perungalathur include Kumarappa Salai at Rs 2,640 per sq.ft, Kurinchi Nagar Saranga Avenue Link Road at Rs 3,960 per sq.ft, and several others, with values ranging from Rs 1,320 to Rs 5,500 per sq.ft.