Guideline Value for Kunkumam Nagar 2nd Street

Kunkumam Nagar 2nd Street guideline value

The current guideline value of Kunkumam Nagar 2nd Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Kunkumam Nagar 2nd Street has changed

The guideline value for Kunkumam Nagar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,600 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,960 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register 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. The median value for these streets is Rs 3,960 per sq.ft, which is the same as the guideline value for Kunkumam Nagar 2nd Street.

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

Stamp duty and registration fee for property in Kunkumam Nagar 2nd 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 or the sale price.

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

Which Sub Registrar Office covers Kunkumam Nagar 2nd Street?

The Kunkumam Nagar 2nd Street falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For further details, you can find your SRO.

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

The guideline value is a crucial reference when buying or selling property in Porur, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When registering a property, the guideline value helps establish a baseline for the transaction price, ensuring that the property is valued appropriately according to the local market standards. This process aids in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Kunkumam Nagar 2nd Street?

The current guideline value of Kunkumam Nagar 2nd 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, marking a 10% increase. It was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012.

What are the other streets in Porur with the same guideline value?

Other streets in Porur with a guideline value of Rs 3,960 per sq.ft include Kunkumam Nagar 2 nd Lane, Kunkumam Nagar 3rd Street, Kunkumam Nagar 1st Street, Kunkumam Nagar 4th Street, and Kunkumam Nagar 1st Lane.

How is the stamp duty calculated for properties in Kunkumam Nagar 2nd Street?

The stamp duty for properties in Kunkumam Nagar 2nd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot measuring 1,000 sq.ft, the stamp duty would be Rs 2,77,200 based on the current guideline value.

Which office handles registrations for Kunkumam Nagar 2nd Street?

The Kunrathur Sub Registrar Office handles registrations for Kunkumam Nagar 2nd Street. It is located at No.59, Road Street, Kundrathur, Chennai -600 069.