Guideline Value for Kurunji Nagar 1st Street

Kurunji Nagar 1st Street guideline value

The current guideline value of Kurunji Nagar 1st Street is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Agaramthen village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kurunji Nagar 1st Street has changed

Since the 2012 revision, the guideline value for Kurunji Nagar 1st Street has seen several changes. In 2012, the value was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the value increased significantly to Rs 400 per sq.ft in 2023, and then rose again to Rs 440 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,700 per sq.ft. The median value for these streets is Rs 830 per sq.ft, indicating that the guideline value for Kurunji Nagar 1st Street is below this median.

• Kurunji Nagar 1st Main Road: Rs 440 per sq.ft (2024)
• Kurunji Nagar 2nd Main Road: Rs 440 per sq.ft (2024)
• Kurunji Nagar 2nd Street: Rs 440 per sq.ft (2024)
• Kurunji Nagar 3rd Main Road: Rs 440 per sq.ft (2024)
• Kurunji Nagar 3rd Street: Rs 440 per sq.ft (2024)
• Kurunji Nagar 4th Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Kurunji Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, leading to a total cost of Rs 39,600. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kurunji Nagar 1st Street?

The Sub Registrar Office that covers Kurunji Nagar 1st 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 information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Agaramthen. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Kurunji Nagar 1st Street?

The current guideline value of Kurunji Nagar 1st Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Kurunji Nagar 1st Street?

The land classification for Kurunji Nagar 1st Street is Residential Class II Type - I.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 4,40,000, the stamp duty is Rs 30,800 and the registration fee is Rs 8,800, totaling Rs 39,600.

Which office handles registrations for Kurunji Nagar 1st Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Kurunji Nagar 1st Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.