Guideline Value for Kurinji Nagar Extension

Kurinji Nagar Extension guideline value

The current guideline value of Kurinji Nagar Extension, located in Mudichur village under the Padappai SRO, is Rs 3,630 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Kurinji Nagar Extension has changed

The guideline value for Kurinji Nagar Extension has undergone several revisions over the years. In 2012, the value was Rs 3,300 per sq.ft. This figure then decreased to Rs 2,211 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 3,300 per sq.ft in 2023, before rising again to Rs 3,630 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. Kurinji Nagar Extension's guideline value of Rs 3,630 per sq.ft is above this median.

• Kurinji Nagar: Rs 3,630 per sq.ft (2024)
• Lakshmi Nagar: Rs 3,630 per sq.ft (2024)
• Lakshmi Nagar Extn: Rs 3,630 per sq.ft (2024)
• Kubera Mangala Nagar: Rs 3,630 per sq.ft (2024)
• Kubera Lakshmi Nagar: Rs 3,630 per sq.ft (2024)
• Krishna Raj Avenue: Rs 3,630 per sq.ft (2024)

Stamp duty and registration fee for property in Kurinji Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,630 per sq.ft, the total guideline value amounts to Rs 36,30,000. The stamp duty at 7% would be Rs 2,54,100, and the registration fee at 2% would be Rs 72,600, making the total cost for these charges Rs 3,26,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kurinji Nagar Extension?

The Kurinji Nagar Extension is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is crucial for both buyers and sellers. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Kurinji Nagar Extension?

The current guideline value of Kurinji Nagar Extension is Rs 3,630 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,630 per sq.ft in 2024.

What is the land classification of Kurinji Nagar Extension?

Kurinji Nagar Extension is classified as Commercial Class I Type - I, indicating its use for commercial activities.

What are the stamp duty and registration fees for property in Kurinji Nagar Extension?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total charges would amount to Rs 3,26,700.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. It is responsible for property registrations in the area.