Guideline Value for Kurunchi Nagar

Kurunchi Nagar guideline value

The current guideline value of Kurunchi Nagar, located in Vanchuvancheri village, is Rs 300 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Kurunchi Nagar has changed

The guideline value for Kurunchi Nagar has undergone several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased to Rs 300 per sq.ft in 2012, marking a significant rise of 200%. However, from 2012 to 2017, the value decreased to Rs 201 per sq.ft, a decline of 33%. From 2017 to 2023, the value saw an increase of 49%, bringing it back to Rs 300 per sq.ft, which remained unchanged in the 2024 revision.

There are no registered figures for Kurunchi Nagar for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Vanchuvancheri

In Vanchuvancheri, there are 23 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 200 to Rs 700 per sq.ft. The median value is Rs 400 per sq.ft, making Kurunchi Nagar's current guideline value below this median.

• Mangalam Nagar: Rs 300 per sq.ft (2024)
• Kannan Nagar: Rs 300 per sq.ft (2024)
• Meenakshipuram: Rs 510 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 200 per sq.ft (2024)
• Ganesapuram: Rs 500 per sq.ft (2024)
• Cement Road (Panchayat Road): Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Kurunchi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total cost for these fees Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kurunchi Nagar?

The Sub Registrar Office that covers Kurunchi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor when buying or selling property in Vanchuvancheri. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When a buyer approaches the registration office, the guideline value will be compared to the sale price. The higher of the two values will be used to calculate the applicable duties and fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kurunchi Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision maintaining the value at Rs 300 per sq.ft since 2023. The value was Rs 100 per sq.ft in 2007 and has increased overall by 200% to the current rate.

What is the median guideline value in Vanchuvancheri?

The median guideline value in Vanchuvancheri is Rs 400 per sq.ft, with Kurunchi Nagar's current value being below this median.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 3,00,000, the total fees would amount to Rs 27,000.

Where is the Sub Registrar Office for Kurunchi Nagar located?

The Sub Registrar Office for Kurunchi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.