Guideline Value for Kurinchi Nagar 1st St

Kurinchi Nagar 1st St guideline value

The current guideline value of Kurinchi Nagar 1st St is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification is Residential Class I Type - I.

How the guideline value of Kurinchi Nagar 1st St has changed

The guideline value for Kurinchi Nagar 1st St has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,000 per sq.ft. The latest revision in 2024 saw an increase of 10%, resulting in the current value of Rs 3,300 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the guideline value for Kurinchi Nagar 1st St.

• Kurinchi Nagar 2nd St: Rs 3,300 per sq.ft (2024)
• Kurinchi Nagar: Rs 3,300 per sq.ft (2024)
• Kurinchi Nagar 3rd St: Rs 3,300 per sq.ft (2024)
• Kurinchi Nagar 4th St: Rs 3,300 per sq.ft (2024)
• Kurinchi Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Kumar Avenue: Rs 6,050 per sq.ft (2024)

Stamp duty and registration fee for property in Kurinchi Nagar 1st St

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the 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 Kurinchi Nagar 1st St?

Kurinchi Nagar 1st St is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duty. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kurinchi Nagar 1st St?

The current guideline value of Kurinchi Nagar 1st St is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Kurinchi Nagar 1st St?

The land classification for Kurinchi Nagar 1st St is Residential Class I Type - I.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Where can I find the Sub Registrar Office for Kurinchi Nagar 1st St?

The Sub Registrar Office covering Kurinchi Nagar 1st St is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find additional information through the provided link.