Guideline Value for Kurunji Nagar (Kurunji Street)

Kurunji Nagar (Kurunji Street) guideline value

The current guideline value of Kurunji Nagar (Kurunji Street) is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kurunji Nagar (Kurunji Street) has changed

The guideline value for Kurunji Nagar (Kurunji Street) has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 150% rise. However, it then experienced a decline to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 175%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. Kurunji Nagar (Kurunji Street) has a guideline value below this median.

• Kuttakarai 1st Street: Rs 880 per sq.ft (2024)
• Kurnchi Nagar 4-th St: Rs 1,650 per sq.ft (2024)
• Kurnchi Nagar 3-rd St: Rs 1,650 per sq.ft (2024)
• Kurnchi Nagar 2-nd St: Rs 1,650 per sq.ft (2024)
• Kurnchi Nagar 1st St: Rs 1,650 per sq.ft (2024)
• Kulakkarai Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Kurunji Nagar (Kurunji Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 Kurunji Nagar (Kurunji Street)?

The Sub Registrar Office that covers Kurunji Nagar (Kurunji Street) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

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

Frequently asked questions

What is the current guideline value of Kurunji Nagar (Kurunji Street)?

The current guideline value of Kurunji Nagar (Kurunji Street) is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the land classification for Kurunji Nagar (Kurunji Street)?

The land classification for Kurunji Nagar (Kurunji Street) is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Kurunji Nagar (Kurunji Street)?

The Sub Registrar Office for Kurunji Nagar (Kurunji Street) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Kurunji Nagar (Kurunji 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 current guideline value would incur a stamp duty of Rs 1,15,500.