Guideline Value for Kurinji Street

Kurinji Street guideline value

The current guideline value of Kurinji Street in Adambakkam village is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class I Type - III.

How the guideline value of Kurinji Street has changed

The guideline value for Kurinji Street has seen significant changes over the years. Starting from Rs 253 per sq.ft in 2002, the value increased to Rs 292 per sq.ft in 2003, marking a 15% rise. The value further escalated to Rs 900 per sq.ft in 2007, reflecting a substantial increase of 208%. In 2012, the guideline value was Rs 3,500 per sq.ft, which was a decrease of 33% from the previous revision. This was followed by a rise to Rs 2,345 per sq.ft in 2017, and then to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 3,900 per sq.ft, an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,442%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of Kurinji Street.

• Kuppusamy Colony Main: Rs 3,900 per sq.ft (2024)
• Kuppusamy Colony 1st Lane: Rs 3,900 per sq.ft (2024)
• Kuppusamy 2nd Lane: Rs 3,900 per sq.ft (2024)
• Labbai Lane: Rs 2,800 per sq.ft (2024)
• Labbai Street: Rs 2,800 per sq.ft (2024)
• Labour Lane 1st Lane: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kurinji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kurinji Street?

The Sub Registrar Office that covers Kurinji Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kurinji Street?

The current guideline value of Kurinji Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 253 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, which is an overall increase of 1,442%.

What are the other streets in Adambakkam with similar guideline values?

Other streets in Adambakkam with a guideline value of Rs 3,900 per sq.ft include Kuppusamy Colony Main, Kuppusamy Colony 1st Lane, and Kuppusamy 2nd Lane.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,51,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.