Guideline Value for Kunkumam Nagar 1st Lane

Kunkumam Nagar 1st Lane guideline value

The current guideline value for Kunkumam Nagar 1st Lane is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Kunkumam Nagar 1st Lane has changed

The guideline value for Kunkumam Nagar 1st Lane has seen several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was a decrease of 33% from Rs 2,412 per sq.ft in the 2017 revision. The value then increased to Rs 3,600 per sq.ft in 2023, before rising to Rs 3,960 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with the median value being Rs 3,960 per sq.ft. The guideline value for Kunkumam Nagar 1st Lane aligns with this median.

• Kunkumam Nagar: Rs 4,290 per sq.ft (2024)
• Kunkumam Nagar 1st Street: Rs 3,960 per sq.ft (2024)
• Kunkumam Nagar 2 nd Lane: Rs 3,960 per sq.ft (2024)
• Kunkumam Nagar 2nd Street: Rs 3,960 per sq.ft (2024)
• Kunkumam Nagar 3rd Street: Rs 3,960 per sq.ft (2024)
• Kunkumam Nagar 4th Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Kunkumam Nagar 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200. Together, these fees would total Rs 3,56,400. 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 Kunkumam Nagar 1st Lane?

The Kunkumam Nagar 1st Lane falls under the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Porur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during property transactions.

When a property is registered, the guideline value is used to determine the applicable charges, ensuring that the fees reflect the current market conditions as per the official register.

Frequently asked questions

What is the current guideline value for Kunkumam Nagar 1st Lane?

The current guideline value for Kunkumam Nagar 1st Lane is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024, which is a 10% increase. It was Rs 2,412 per sq.ft in 2017, showing a 49% increase to 2023.

What is the land classification for Kunkumam Nagar 1st Lane?

Kunkumam Nagar 1st Lane is classified as Residential Special Type - I, indicating its designation for residential purposes.

Where can I find the registration office for Kunkumam Nagar 1st Lane?

The registration office for Kunkumam Nagar 1st Lane is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 and the registration fee would be Rs 79,200.