Guideline Value for Kuruchi Nagar Annexe

Kuruchi Nagar Annexe guideline value

The current guideline value of Kuruchi Nagar Annexe is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under Perungudi village, within the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kuruchi Nagar Annexe has changed

The guideline value for Kuruchi Nagar Annexe has seen significant changes over the years. In 2003, the value was Rs 250 per sq.ft, which increased to Rs 1,480 per sq.ft in 2007. The value then rose dramatically to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. By 2023, the value had increased to Rs 3,000 per sq.ft, and the latest revision in 2024 set the value at Rs 3,300 per sq.ft. The changes from 2017 to 2023 reflect an increase of 49%, and from 2023 to 2024, there is a 10% increase.

Notably, the register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1220%.

Guideline values in Perungudi

In Perungudi village, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the current value for Kuruchi Nagar Annexe.

• Kurunchi Nagar 10th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 12th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Kurunchi Nagar 15th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kuruchi Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. Duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuruchi Nagar Annexe?

The Sub Registrar Office that covers Kuruchi Nagar Annexe is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is an important factor in property transactions in Perungudi, as it determines the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must refer to the guideline value to ensure compliance with legal requirements during registration.

When a property is registered, the guideline value serves as a benchmark for calculating taxes. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies in the transaction.

Frequently asked questions

What is the current guideline value of Kuruchi Nagar Annexe?

The current guideline value of Kuruchi Nagar Annexe is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 250 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1220%.

What are the stamp duty and registration fees for properties in Kuruchi Nagar Annexe?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Kuruchi Nagar Annexe?

The Neelankarai Sub Registrar Office is responsible for registrations in Kuruchi Nagar Annexe, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the applicable stamp duty and registration fees. It is crucial for buyers and sellers to be aware of the guideline value to ensure compliance during the registration process.