Guideline Value for Kurnchi Nagar 3-rd St

Kurnchi Nagar 3-rd St guideline value

The current guideline value for Kurnchi Nagar 3-rd St is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kurnchi Nagar 3-rd St has changed

The guideline value for Kurnchi Nagar 3-rd St has undergone several revisions over the years. In 2007, the value was set at Rs 600 per sq.ft. This increased to Rs 1,500 per sq.ft in 2012, marking a significant rise of 150%. However, the value saw a decrease to Rs 1,005 per sq.ft in 2017, which was a drop of 33%. Following that, the value increased sharply to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 175%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

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 value for these streets is Rs 2,200 per sq.ft, placing Kurnchi Nagar 3-rd St's 2024 value below the median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to 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 3-rd St?

The Kurnchi Nagar 3-rd St is covered by 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 an important factor in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

When completing a transaction, the guideline value is used to ensure compliance with legal requirements and to facilitate a transparent process. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Kurnchi Nagar 3-rd St?

The current guideline value for Kurnchi Nagar 3-rd 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 from Rs 600 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 175% over the years.

What is the median guideline value in Irumpuliyur?

The median guideline value for the 218 streets in Irumpuliyur is Rs 2,200 per sq.ft, which is above the current value of Kurnchi Nagar 3-rd St.

What are the stamp duty rates for properties in Kurnchi Nagar 3-rd St?

The stamp duty for properties in Kurnchi Nagar 3-rd St is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kurnchi Nagar 3-rd St?

The Sub Registrar Office covering Kurnchi Nagar 3-rd St is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.