Guideline Value for Kurnchi Nagar 1st St

Kurnchi Nagar 1st St guideline value

The current guideline value of Kurnchi Nagar 1st St is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kurnchi Nagar 1st St has changed

The guideline value for Kurnchi Nagar 1st St has seen several revisions over the years. The earliest available figure is from 2007, where the value was Rs 600 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, but then dropped to Rs 1,005 per sq.ft in 2017. The value saw a substantial increase to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 for this street.

Between the revisions, the changes in guideline value per sq.ft were as follows: from 2007 to 2012, there was an increase of 150%; however, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and the latest revision shows a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making Kurnchi Nagar 1st St's current value below the median.

• Kurnchi Nagar 2-nd St: Rs 1,650 per sq.ft (2024)
• Kurnchi Nagar 3-rd St: Rs 1,650 per sq.ft (2024)
• Kurnchi Nagar 4-th St: Rs 1,650 per sq.ft (2024)
• Kurunji Nagar (Kurunji Street): Rs 1,650 per sq.ft (2024)
• Kuttakarai 1st Street: Rs 880 per sq.ft (2024)
• Kulakkarai Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Kurnchi Nagar 1st St

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total charges would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kurnchi Nagar 1st St?

The Kurnchi Nagar 1st St falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO online for more information.

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

The guideline value is a crucial factor in property transactions in Irumpuliyur. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives the correct stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value helps both the buyer and seller understand the official valuation of the property. This value is essential for calculating the applicable stamp duty and registration fees during the transaction process.

Frequently asked questions

What is the current guideline value of Kurnchi Nagar 1st St?

The current guideline value of Kurnchi Nagar 1st St is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 600 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the land classification for Kurnchi Nagar 1st St?

Kurnchi Nagar 1st St is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Kurnchi Nagar 1st St?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Kurnchi Nagar 1st St?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Kurnchi Nagar 1st St, located at No.26, Mes Road, East Tambaram, Chennai-600059.