Guideline Value for Kurinchi Nagar

Kurinchi Nagar guideline value

The current guideline value of Kurinchi Nagar, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Kurinchi Nagar has changed

The guideline value for Kurinchi Nagar has seen several revisions over the years. The earliest recorded figure is from 2017, which was Rs 2,010 per sq.ft. This increased to Rs 3,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 sets the value at Rs 3,300 per sq.ft, reflecting a further increase of 10% from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. This consistent rise illustrates the changing valuation of properties in Kurinchi Nagar over the years.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Kurinchi Nagar.

• Kurinchi Nagar 1st St: Rs 3,300 per sq.ft (2024)
• Kurinchi Nagar 2nd 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 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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 cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kurinchi Nagar?

The Sub Registrar Office that covers Kurinchi Nagar 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 a crucial factor when registering a property in Tambaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value for Kurinchi Nagar?

The current guideline value for Kurinchi Nagar is Rs 3,300 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 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64% during this period.

What is the stamp duty rate for properties in Kurinchi Nagar?

The stamp duty rate for properties in Kurinchi Nagar is 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for properties in Kurinchi Nagar?

The registration fee for properties in Kurinchi Nagar is 2% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Kurinchi Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.