Guideline Value for Kurukku Street

Kurukku Street guideline value

The current guideline value of Kurukku Street in Seemapuram village is Rs 220 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Kurukku Street has changed

Over the years, the guideline value of Kurukku Street has seen several revisions. The earliest available figure is from 2007, when it was Rs 100 per sq.ft. This increased to Rs 200 per sq.ft in 2012, marking a 100% rise. However, in 2017, the value decreased to Rs 134 per sq.ft, representing a decline of 33%. The value then rose significantly to Rs 200 per sq.ft in 2023, followed by a further increase to Rs 220 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 120%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Seemapuram

In Seemapuram, there are 13 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 110 to Rs 1,600 per sq.ft. The median value is Rs 220 per sq.ft, which is equal to the 2024 figure for Kurukku Street.

• Kinaru Street: Rs 220 per sq.ft (2024)
• Kavarai Street: Rs 220 per sq.ft (2024)
• Mettu Street: Rs 220 per sq.ft (2024)
• Mother Therasa Garden: Rs 1,600 per sq.ft (2024)
• Kadaisi Street: Rs 110 per sq.ft (2024)
• Perumal Koil Street: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Kurukku Street

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total charges to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kurukku Street?

The Sub Registrar Office that covers Kurukku Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Seemapuram, as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the buying or selling process.

When a property is sold, the guideline value ensures that the government receives appropriate revenue from the transaction. Buyers should be aware of the guideline value to understand their financial obligations during registration.

Frequently asked questions

What is the current guideline value of Kurukku Street?

The current guideline value of Kurukku Street is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 220 per sq.ft in 2024, reflecting a total increase of 120% over this period.

What are the other streets in Seemapuram with the same guideline value?

Other streets in Seemapuram with the same 2024 guideline value of Rs 220 per sq.ft include Kinaru Street, Kavarai Street, Mettu Street, and Perumal Koil Street.

What is the registration fee for a property in Kurukku Street?

The registration fee for a property in Kurukku Street is 2% of the guideline value. For example, for a property valued at Rs 2,20,000, the registration fee would be Rs 4,400.

Where can I find the Sub Registrar Office for Kurukku Street?

The Sub Registrar Office for Kurukku Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.