Guideline Value for Kuravar Street

Kuravar Street guideline value

The current guideline value of Kuravar Street in Thirumangalam village is Rs 605 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class IV Type - I.

How the guideline value of Kuravar Street has changed

The guideline value for Kuravar Street has remained stable at Rs 605 per sq.ft since the 2023 revision. The previous revision in 2017 recorded a guideline value of Rs 405 per sq.ft, marking a significant increase of 49% over six years. The register has no figures for the revisions in 2002, 2003, and 2007.

Looking further back, the 2012 revision set the guideline value at Rs 200 per sq.ft, which represents a remarkable increase of 103% by the time of the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 203%.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,000 per sq.ft. The median value is Rs 605 per sq.ft, which is equal to the current guideline value of Kuravar Street.

• Kulakarai Ist street: Rs 700 per sq.ft (2024)
• Kulakarai IInd Street: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• Kent Grdern: Rs 2,000 per sq.ft (2024)
• Malai Matha Nagar: Rs 605 per sq.ft (2024)
• Mettu Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Kuravar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 605 per sq.ft, the total guideline value would be Rs 6,05,000. The stamp duty at 7% would amount to Rs 42,350, and the registration fee at 2% would be Rs 12,100, bringing the total charges to Rs 54,450. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuravar Street?

The Sub Registrar Office that covers Kuravar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirumangalam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the correct amount of duty is charged based on either the guideline value or the sale price, whichever is higher. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kuravar Street?

The current guideline value of Kuravar Street is Rs 605 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 605 per sq.ft from the 2023 revision to the 2024 revision. It increased from Rs 405 per sq.ft in 2017 to Rs 605 per sq.ft in 2023, and from Rs 200 per sq.ft in 2012 to Rs 405 per sq.ft in 2017.

What is the land classification of Kuravar Street?

Kuravar Street is classified as Residential Class IV Type - I under the Sunguvarchattram SRO.

What are the stamp duty and registration fees for properties on Kuravar Street?

For a property valued at Rs 6,05,000, the stamp duty would be Rs 42,350, and the registration fee would be Rs 12,100, totaling Rs 54,450. This is calculated based on the guideline value of Rs 605 per sq.ft.

Where can I find the Sub Registrar Office for Kuravar Street?

The Sub Registrar Office for Kuravar Street is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more details online.