Guideline Value for Kurinchi Nagar 2nd St

Kurinchi Nagar 2nd St guideline value

The current guideline value of Kurinchi Nagar 2nd 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 for this area is Residential Class I Type - I.

How the guideline value of Kurinchi Nagar 2nd St has changed

The guideline value for Kurinchi Nagar 2nd St has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then dropped to Rs 2,010 per sq.ft in 2017. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 brought the value up to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tambaram

Kurinchi Nagar 2nd St's guideline value of Rs 3,300 per sq.ft is in line with the median guideline value of Rs 3,300 per sq.ft for the 360 streets in Tambaram under the Tambaram Joint 1 SRO, which range from Rs 880 to Rs 8,250 per sq.ft.

• Kurinchi Nagar 1st St: 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: 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 2nd 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kurinchi Nagar 2nd St?

The Sub Registrar Office covering Kurinchi Nagar 2nd St is 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 information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Tambaram. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is legally documented and the appropriate taxes are collected.

When a property is sold, the guideline value serves as a benchmark for the minimum price at which the property can be registered. This helps maintain transparency in property transactions and prevents undervaluation.

Frequently asked questions

What is the current guideline value of Kurinchi Nagar 2nd St?

The current guideline value of Kurinchi Nagar 2nd 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 2023 to Rs 3,300 per sq.ft in 2024. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Kurinchi Nagar 2nd St?

The Tambaram Joint 1 Sub Registrar Office covers Kurinchi Nagar 2nd St, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Kurinchi Nagar 2nd St?

The land classification for Kurinchi Nagar 2nd St is Residential Class I Type - I.