Guideline Value for Kurunji Nagar

Kurunji Nagar guideline value

The current guideline value of Kurunji Nagar, located in Porur village under the Kunrathur SRO, is Rs 2,860 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Kurunji Nagar has changed

The guideline value of Kurunji Nagar has seen significant changes over the years. In 2002, the value was Rs 229 per sq.ft, which increased to Rs 254 per sq.ft in 2003, marking an 11% rise. The value then experienced a substantial increase to Rs 600 per sq.ft in 2007, reflecting a 136% change. Following this, the 2012 revision saw the value drop to Rs 2,600 per sq.ft, a decrease of 333% from the previous figure.

In the subsequent revisions, the guideline value rose again, reaching Rs 1,742 per sq.ft in 2017, which was a 49% increase from the 2012 figure. The most recent revision in 2023 set the value at Rs 2,600 per sq.ft, and as of 2024, it stands at Rs 2,860 per sq.ft, representing a 10% increase from the previous year. Overall, since 2002, the guideline value has increased by 1149%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value for Kurunji Nagar is below this median.

• Kurunji Nagar Main Road: Rs 2,860 per sq.ft (2024)
• Kurunji Nagar Rathi Street: Rs 2,860 per sq.ft (2024)
• Kurinji Nagar Thamarai Street: Rs 2,860 per sq.ft (2024)
• Kurinji Nagar Roja Street: Rs 2,860 per sq.ft (2024)
• Kurinji Nagar Malligai Street: Rs 2,860 per sq.ft (2024)
• Kuyapettai 1st Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Kurunji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total cost to Rs 2,57,400. It is important to note that 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?

The Sub Registrar Office that covers Kurunji Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that the property is assessed fairly, helping to maintain transparency in the real estate market. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Kurunji Nagar?

The current guideline value of Kurunji Nagar is Rs 2,860 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 229 per sq.ft in 2002 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 1149%.

What are the other streets in Porur with the same guideline value?

Other streets in Porur that share the same guideline value of Rs 2,860 per sq.ft include Kurunji Nagar Main Road, Kurunji Nagar Rathi Street, Kurunji Nagar Thamarai Street, Kurunji Nagar Roja Street, and Kurunji Nagar Malligai Street.

What is the stamp duty rate for properties in Kurunji Nagar?

The stamp duty rate for properties in Kurunji Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Kurunji Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.