Guideline Value for Kuresan Street

Kuresan Street guideline value

The current guideline value of Kuresan Street in Tondaiarpet village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Royapuram SRO and is classified as Residential Special Type - II.

How the guideline value of Kuresan Street has changed

The guideline value for Kuresan Street has undergone several revisions since 2007. In the 2007 revision, the value was set at Rs 800 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a substantial rise of 213%. The most recent revision in 2024 saw the guideline value increase to Rs 2,700 per sq.ft, which is an 8% increase from the 2012 figure.

It is important to note that the register does not have figures for Kuresan Street for the years 2002, 2003, 2017, and 2023. Overall, the guideline value has increased by 238% from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Kuresan Street's 2024 figure above this median.

• Kuppu Lane: Rs 1,300 per sq.ft (2024)
• Kuppu Chetty Street (Kuppa Chetty Street): Rs 1,300 per sq.ft (2024)
• K.V.K. Swamy street: Rs 1,300 per sq.ft (2024)
• Kumaresan Street: Rs 1,300 per sq.ft (2024)
• Labour Lane: Rs 1,300 per sq.ft (2024)
• Kumarasamy Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kuresan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Kuresan Street?

The Kuresan Street is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency and compliance with government regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that all transactions are accurately recorded.

Frequently asked questions

What is the current guideline value of Kuresan Street?

The current guideline value of Kuresan Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 238%.

What is the classification of Kuresan Street?

Kuresan Street is classified as Residential Special Type - II under the land classification system.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Kuresan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, at the current guideline value, the stamp duty for a 1,000 sq.ft plot would amount to Rs 1,89,000.