Guideline Value for Kurunji Nagar

Kurunji Nagar guideline value

The current guideline value of Kurunji Nagar, located in Zaminpallavaram village, is Rs 3,520 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Kurunji Nagar has changed

The guideline value for Kurunji Nagar has seen significant changes over the years. In the 2003 revision, the value was Rs 174 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a substantial rise of 360%. The value further jumped to Rs 3,200 per sq.ft in 2012, reflecting a 300% increase from the previous revision. However, in the 2017 revision, the value decreased to Rs 2,144 per sq.ft, a decline of 33% from 2012. The 2023 revision brought the value back up to Rs 3,200 per sq.ft, and in the latest 2024 revision, it has increased to Rs 3,520 per sq.ft, representing a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1923%. It is important to note that there is no figure available for Kurunji Nagar in the 2002 revision.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median value for these streets is Rs 3,300 per sq.ft, placing Kurunji Nagar's 2024 figure above this median.

• Kuvari Kattabomman Street: Rs 2,160 per sq.ft (2024)
• Kuvari Mettu Street: Rs 3,300 per sq.ft (2024)
• Kuvari Road: Rs 2,100 per sq.ft (2024)
• Kuvari Road Cross Street: Rs 2,100 per sq.ft (2024)
• Kuvari V.O.C. Street: Rs 2,100 per sq.ft (2024)
• Kurathiamman Koil Street: Rs 3,300 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 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total charges to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kurunji Nagar?

The Sub Registrar Office covering Kurunji Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Kurunji Nagar?

The current guideline value of Kurunji Nagar is Rs 3,520 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 174 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft as of 2024.

What are the stamp duty and registration fees for properties in Kurunji Nagar?

For a property valued at Rs 35,20,000, the stamp duty is Rs 2,46,400 and the registration fee is Rs 70,400, totaling Rs 3,16,800.

Which office handles property registrations in Kurunji Nagar?

The Pallavaram Sub Registrar Office handles property registrations in Kurunji Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.