Guideline Value for Kurnchi Nagar 4-th St

Kurnchi Nagar 4-th St guideline value

The current guideline value of Kurnchi Nagar 4-th 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, classified as Residential Class I Type - I.

How the guideline value of Kurnchi Nagar 4-th St has changed

The guideline value for Kurnchi Nagar 4-th St has seen several revisions over the years. The earliest recorded figure is from 2007, set at Rs 600 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 150% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase to Rs 1,500 per sq.ft in 2023, followed by a further rise to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 figure to the current 2024 value, there has been a total increase of 175%. The register has no figures for the years 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, with a median value of Rs 2,200 per sq.ft. The guideline value of Kurnchi Nagar 4-th St is below this median.

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

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would amount to Rs 33,000, totaling Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kurnchi Nagar 4-th St?

The Kurnchi Nagar 4-th 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 plays a crucial role in property transactions in Irumpuliyur. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers should be aware that the guideline value is often used as a benchmark for these fees.

When a property is sold, the guideline value may influence the sale price, as it reflects the official valuation set by the government. It is essential for both parties in a transaction to consider this value to ensure compliance with local regulations and to understand the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Kurnchi Nagar 4-th St?

The current guideline value of Kurnchi Nagar 4-th 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, marking an overall increase of 175% over the years.

What is the land classification for Kurnchi Nagar 4-th St?

Kurnchi Nagar 4-th St is classified as Residential Class I Type - I, indicating its suitability for residential development.

Which Sub Registrar Office is responsible for Kurnchi Nagar 4-th St?

The Tambaram Joint 1 Sub Registrar Office is responsible for Kurnchi Nagar 4-th St, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Kurnchi Nagar 4-th St?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.