Guideline Value for Kuruku Street

Kuruku Street guideline value

The current guideline value of Kuruku Street in Mambakkam village is Rs 305 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of Kuruku Street has changed

The guideline value for Kuruku Street has seen a significant increase from the previous revision. In 2023, the guideline value was Rs 200 per sq.ft, and with the 2024 revision, it has risen to Rs 305 per sq.ft, marking an increase of 53%.

Prior to the 2023 revision, the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002. Therefore, the current value reflects the first recorded figure since 2023.

Guideline values in Mambakkam

In Mambakkam, there are 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,418 per sq.ft. The median value among these streets is Rs 305 per sq.ft, which is the same as the guideline value for Kuruku Street.

• Mahalakshmi Farms: Rs 505 per sq.ft (2024)
• Main Road: Rs 505 per sq.ft (2024)
• M.B.C Street: Rs 305 per sq.ft (2024)
• Mettu Street: Rs 305 per sq.ft (2024)
• Kakkan Street: Rs 250 per sq.ft (2024)
• Muthumariamman Kovil Street: Rs 305 per sq.ft (2024)

Stamp duty and registration fee for property in Kuruku Street

For a 1,000 sq.ft plot at the current guideline value of Rs 305 per sq.ft, the total guideline value would be Rs 3,05,000. The stamp duty at 7% would be Rs 21,350, and the registration fee at 2% would be Rs 6,100, bringing the total costs together to Rs 27,450. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kuruku Street?

The Sub Registrar Office that covers Kuruku Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Mambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kuruku Street?

The current guideline value of Kuruku Street is Rs 305 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 200 per sq.ft in 2023 to Rs 305 per sq.ft in 2024, which is a rise of 53%.

What is the classification of Kuruku Street?

Kuruku Street is classified as Residential Class I Type - I under the guideline value register.

Where can I find the registration office for Kuruku Street?

The registration office for Kuruku Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kuruku Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 305 per sq.ft would incur a stamp duty of Rs 21,350.