Guideline Value for Kurinji Nagar

Kurinji Nagar guideline value

The current guideline value of Kurinji Nagar is Rs 1,500 per sq.ft, as per the 2023 revision. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Kurinji Nagar has changed

The guideline value of Kurinji Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 550 per sq.ft. This figure saw a significant increase in 2012, where it rose to Rs 1,500 per sq.ft, marking a remarkable increase of 173%. However, in the subsequent revision of 2017, the guideline value decreased to Rs 1,005 per sq.ft, representing a decline of 33%. The most recent revision in 2023 brought the value back up to Rs 1,500 per sq.ft, reflecting an increase of 49% from the 2017 figure. It is important to note that the register has no figure for this street for the years 2002, 2003, and 2024.

Overall, from 2007 to 2023, the guideline value has increased by 173%. This indicates fluctuations in the property valuation over the years, with notable increases and decreases at different intervals.

Guideline values in Vandalur

Kurinji Nagar is situated within the Vandalur area, which is governed by the Gooduvancheri SRO. Unfortunately, there are no specific village figures available for this locality. Additionally, there are no other streets in Vandalur listed under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Kurinji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty, calculated at 7%, would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000. Therefore, the total cost for stamp duty and registration fees together would be Rs 1,35,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kurinji Nagar?

The Sub Registrar Office that covers Kurinji Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vandalur. It serves as a benchmark for determining the minimum value of the property, which ensures that the transaction is recorded accurately in the official documents. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property registration process.

When a buyer decides to purchase a property, the guideline value will influence the overall cost, as the stamp duty is charged on the higher of the guideline value or the sale price. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with legal requirements and to manage their financial commitments effectively.

Frequently asked questions

What is the current guideline value of Kurinji Nagar?

The current guideline value of Kurinji Nagar is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and finally returned to Rs 1,500 per sq.ft in 2023.

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

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

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

Is there any guideline value for Kurinji Nagar in 2024?

The register has no figure for Kurinji Nagar for the year 2024, so no guideline value is available for that year.