Guideline Value for Kunkumam Nagar 1st Street

Kunkumam Nagar 1st Street guideline value

The current guideline value of Kunkumam Nagar 1st Street 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 Street has changed

The guideline value for Kunkumam Nagar 1st Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 3,600 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 2,412 per sq.ft, a drop of 33%. The value increased to Rs 3,600 per sq.ft in 2023, and then further increased by 10% to the current value of Rs 3,960 per sq.ft in 2024.

There are no recorded figures for the years 2002, 2003, and 2007 for Kunkumam Nagar 1st Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value is Rs 3,960 per sq.ft, which is equal to the guideline value of Kunkumam Nagar 1st Street.

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

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, bringing the total to Rs 3,56,400. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kunkumam Nagar 1st Street?

Kunkumam Nagar 1st Street falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When buying or selling property, it is essential to refer to the current guideline value as it reflects the official valuation set by the government. This value is regularly revised to account for changes in the real estate market and is crucial for accurate financial planning during property transactions.

Frequently asked questions

What is the current guideline value of Kunkumam Nagar 1st Street?

The current guideline value of Kunkumam Nagar 1st Street 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, an increase of 10%. It was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012.

What is the classification of land in Kunkumam Nagar 1st Street?

The land classification for Kunkumam Nagar 1st Street is Residential Special Type - I, indicating its designated use for residential purposes.

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

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

How is stamp duty calculated for properties in Kunkumam Nagar 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a plot valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 at 7%.