Guideline Value for Kurnchi Nagar 2-nd St

Kurnchi Nagar 2-nd St guideline value

The current guideline value of Kurnchi Nagar 2-nd 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 2-nd St has changed

The guideline value for Kurnchi Nagar 2-nd St has undergone several revisions over the years. The 2007 revision set the guideline value at Rs 600 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2023, and most recently, it has been revised to Rs 1,650 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 150%, but then it decreased by 33% from 2012 to 2017. The value saw a substantial increase of 49% from 2017 to 2023, and from 2023 to 2024, it has increased by 10%. Overall, from 2007 to 2024, the guideline value has increased by 175%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Kurnchi Nagar 2-nd St's 2024 figure below that median.

• Kurnchi Nagar 1st 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 2-nd St

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

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Kurnchi Nagar 2-nd St?

Kurnchi Nagar 2-nd 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 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 serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the guideline value as it can influence the overall cost of the transaction. The registration office uses this value to ensure that properties are transacted at a fair price, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Kurnchi Nagar 2-nd St?

The current guideline value of Kurnchi Nagar 2-nd 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 several times, starting from Rs 600 per sq.ft in 2007, increasing to Rs 1,500 per sq.ft in 2012, then decreasing to Rs 1,005 per sq.ft in 2017, and rising again to Rs 1,500 per sq.ft in 2023, before reaching Rs 1,650 per sq.ft in 2024.

What is the land classification for Kurnchi Nagar 2-nd St?

Kurnchi Nagar 2-nd St is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for a property in Kurnchi Nagar 2-nd St?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registration for Kurnchi Nagar 2-nd St?

The Tambaram Joint 1 Sub Registrar Office handles property registration for Kurnchi Nagar 2-nd St, located at No.26, Mes Road, East Tambaram, Chennai-600059.