Guideline Value for Kurinji Nagar Extension

Kurinji Nagar Extension guideline value

The current guideline value of Kurinji Nagar Extension is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village under the Padappai SRO, classified as Commercial Class I Type - II.

How the guideline value of Kurinji Nagar Extension has changed

Over the years, the guideline value of Kurinji Nagar Extension has seen several revisions. In 2012, the value was set at Rs 2,700 per sq.ft. This figure dropped to Rs 1,809 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,700 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 2,970 per sq.ft, reflecting a 10% rise from the previous year.

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

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Kurinji Nagar Extension's 2024 value above this median.

• Kurinji Nagar: Rs 2,970 per sq.ft (2024)
• Kurinchi Nagar Saranga Avenue Link Road: Rs 3,960 per sq.ft (2024)
• Kundu Medu: Rs 1,980 per sq.ft (2024)
• Lake Park View I: Rs 1,320 per sq.ft (2024)
• Lake Park View II: Rs 1,320 per sq.ft (2024)
• Kumarappa Salai: Rs 2,640 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 rate of Rs 2,970 per sq.ft, the guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kurinji Nagar Extension?

The Sub Registrar Office that covers Kurinji Nagar Extension is located at Padappai Sub Registrar Office, 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 Perungalathur

The guideline value is a critical factor in property transactions in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold. When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price.

Additionally, the guideline value helps in ensuring transparency in property transactions. Buyers and sellers can refer to the guideline value to understand the official valuation of properties in the area, aiding in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Kurinji Nagar Extension?

The current guideline value of Kurinji Nagar Extension is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,970 per sq.ft in 2024, marking a 10% increase. It was Rs 1,809 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification of Kurinji Nagar Extension?

Kurinji Nagar Extension is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

Where is the Sub Registrar Office for Kurinji Nagar Extension located?

The Sub Registrar Office for Kurinji Nagar Extension is located at Padappai Sub Registrar Office, 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Kurinji Nagar Extension?

Stamp duty for properties in Kurinji Nagar Extension is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 29,70,000 would incur a stamp duty of Rs 2,07,900 at a rate of 7%.