Guideline Value for Kurinji Nagar Malligai Street

Kurinji Nagar Malligai Street guideline value

The current guideline value of Kurinji Nagar Malligai Street is Rs 2,860 per sq.ft. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - III.

How the guideline value of Kurinji Nagar Malligai Street has changed

The guideline value for Kurinji Nagar Malligai Street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 2,600 per sq.ft, which then decreased to Rs 1,742 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,600 per sq.ft in 2023 and further to Rs 2,860 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, placing Kurinji Nagar Malligai Street's 2024 guideline value below that median.

• Kurinji nagar Roja Street: Rs 2,860 per sq.ft (2024)
• Kurinji Nagar Thamarai Street: Rs 2,860 per sq.ft (2024)
• Kurunji Nagar: Rs 2,860 per sq.ft (2024)
• Kurunji Nagar Main Road: Rs 2,860 per sq.ft (2024)
• Kurunji Nagar Rathi Street: Rs 2,860 per sq.ft (2024)
• Kuppusamy Street (Highways): Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Kurinji Nagar Malligai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total to Rs 2,57,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kurinji Nagar Malligai Street?

The Sub Registrar Office that covers Kurinji Nagar Malligai Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Porur. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring transparency in real estate dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses in the registration process. This helps both buyers and sellers understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Kurinji Nagar Malligai Street?

The current guideline value of Kurinji Nagar Malligai Street is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,600 per sq.ft in 2023 to Rs 2,860 per sq.ft in 2024, marking a 10% increase. It was Rs 1,742 per sq.ft in 2017 and Rs 2,600 per sq.ft in 2012.

What is the land classification for Kurinji Nagar Malligai Street?

Kurinji Nagar Malligai Street is classified as Residential Special Type - III, indicating its suitability for residential development.

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

For a property valued at Rs 28,60,000, the stamp duty would be Rs 2,00,200 and the registration fee would be Rs 57,200, totaling Rs 2,57,400. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in the area.