Guideline Value for Kurinji Nagar

Kurinji Nagar guideline value

The current guideline value of Kurinji Nagar, located in Kovilambakkam village under the Pallavaram SRO, is Rs 2,160 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Kurinji Nagar has changed

The guideline value for Kurinji Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 91 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2007. The value then rose dramatically to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. Following this, the value increased to Rs 2,000 per sq.ft in 2023 and finally reached Rs 2,160 per sq.ft in 2024. The register has no figure for this street for the year 2002.

Between the revisions, notable changes include an increase of 285% from 2003 to 2007, a rise of 471% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a significant increase of 49% from 2017 to 2023. The current value of Rs 2,160 per sq.ft reflects an overall increase of 2,274% from the 2003 figure.

Guideline values in Kovilambakkam

In Kovilambakkam, there are 61 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, positioning Kurinji Nagar's 2024 value below this median.

• Kurunji Nagar 1 To 6 Main Road: Rs 2,160 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,380 per sq.ft (2024)
• Kulathur 1 to 14 Streets: Rs 2,160 per sq.ft (2024)
• Kulakarai Street: Rs 2,160 per sq.ft (2024)
• Maangali Amman Koil Road: Rs 4,400 per sq.ft (2024)
• Madipakkam Main Road: Rs 4,070 per sq.ft (2024)

Stamp duty and registration fee for property in Kurinji Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,160 per sq.ft, the guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, while the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kurinji Nagar?

Kurinji Nagar falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kovilambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. Buyers should be aware that these charges are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kurinji Nagar?

The current guideline value of Kurinji Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 91 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 2,274% over this period.

What is the median guideline value in Kovilambakkam?

The median guideline value for the 61 streets in Kovilambakkam is Rs 2,750 per sq.ft, which is higher than Kurinji Nagar's current value.

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

For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which office handles the registration for Kurinji Nagar?

The Pallavaram Sub Registrar Office handles the registration for Kurinji Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.