Guideline Value for Kurunchi Street

Kurunchi Street guideline value

The current guideline value of Kurunchi Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Kurunchi Street has changed

The guideline value for Kurunchi Street has experienced several revisions over the years. The earliest recorded revision in 2007 set the guideline value at Rs 800 per sq.ft. This figure saw a significant increase to Rs 3,000 per sq.ft in the 2012 revision, marking a change of 275%. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% rise from the 2012 figure. It is important to note that there are no figures available for the revisions in 2003, 2002, 2017, and 2023 for this street.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 313%. This substantial rise highlights the changes in property valuation over the years in Kurunchi Street.

Guideline values in Kodambakkam

In Kodambakkam village, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Kurunchi Street's 2024 figure below this median.

• Kuthadum Pillaiyar Koil Steet: Rs 3,300 per sq.ft (2024)
• Kuppusamy Mudali Street Block 85: Rs 4,100 per sq.ft (2024)
• Lake Street (Erikkarai Street)(N.P): Rs 3,300 per sq.ft (2024)
• Kunjammal Street(M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Lakeview Road 2nd Lane (W.M): Rs 6,000 per sq.ft (2024)
• Lake View Road Extension (W.M): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kurunchi Street

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, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kurunchi Street?

The Sub Registrar Office that covers Kurunchi Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. This ensures that the transaction is recorded at a fair value as per the government regulations.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall costs associated with the transaction. This value is regularly updated to reflect changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Kurunchi Street?

The current guideline value of Kurunchi Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

What are the other guideline values in Kodambakkam?

In Kodambakkam, the guideline values range from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft.

What are the stamp duty and registration fees for Kurunchi Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, resulting in a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Kurunchi Street located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.