Guideline Value for Kurunji Nagar 2nd Street

Kurunji Nagar 2nd Street guideline value

The current guideline value of Kurunji Nagar 2nd 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 2nd Street has changed

The guideline value for Kurunji Nagar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft. However, this was followed by a significant increase to Rs 400 per sq.ft in 2023, and further to Rs 440 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 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 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median value for these streets is Rs 830 per sq.ft, placing Kurunji Nagar 2nd Street's 2024 figure below this median.

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

Stamp duty and registration fee for property in Kurunji Nagar 2nd 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, making the total cost for these fees Rs 39,600. 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 details.

Which Sub Registrar Office covers Kurunji Nagar 2nd Street?

The Sub Registrar Office that covers Kurunji Nagar 2nd 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Agaramthen. 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 to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kurunji Nagar 2nd Street?

The current guideline value of Kurunji Nagar 2nd 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 increased 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 2nd Street?

The land classification for Kurunji Nagar 2nd Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Kurunji Nagar 2nd Street?

The Sub Registrar Office for Kurunji Nagar 2nd 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 Agaramthen?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 4,40,000, the stamp duty would be calculated on this amount.