Guideline Value for kundrathur new town

Kundrathur New Town guideline value

The current guideline value of Kundrathur New Town is Rs 3,440 per sq.ft, effective from 1 July 2024. This area is located in Kunrathour-B village and falls under the Kunrathur SRO. The land classification for this area is Residential Class III Type - V.

How the guideline value of Kundrathur New Town has changed

In the 2017 revision, the guideline value was Rs 3,120 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 3,120 per sq.ft. However, in the 2024 revision, the guideline value increased by 10% to Rs 3,440 per sq.ft.

Overall, from 2017 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

Kundrathur New Town's guideline value of Rs 3,440 per sq.ft is above the median value of Rs 1,540 per sq.ft for the 325 streets in Kunrathour-B under the Kunrathur SRO, which range from Rs 660 to Rs 5,130 per sq.ft.

• kundrathur new town phase-II: Rs 3,440 per sq.ft (2024)
• Kundrathur New Town Phase - III: Rs 4,180 per sq.ft (2024)
• Kundrathur North Cherry Street: Rs 1,430 per sq.ft (2024)
• Kundrathur Garden Phase II: Rs 1,430 per sq.ft (2024)
• Kundrathur Pallavaram Main Road: Rs 2,860 per sq.ft (2024)
• Kundrathur Garden Phase I: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Kundrathur New Town

For a 1,000 sq.ft plot at the current rate of Rs 3,440 per sq.ft, the guideline value amounts to Rs 34,40,000. The stamp duty, charged at 7%, would be Rs 2,40,800, and the registration fee at 2% would be Rs 68,800, totaling Rs 3,09,600. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kundrathur New Town?

The Kundrathur Sub Registrar Office covers Kundrathur New Town, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the stamp duty and registration fees are calculated based on the higher of the guideline value or the agreed sale price.

When registering a property, it is essential to ensure that the sale price is not below the guideline value, as this could lead to legal complications. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Kundrathur New Town?

The current guideline value of Kundrathur New Town is Rs 3,440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,120 per sq.ft in 2017 to Rs 3,440 per sq.ft in 2024, marking a 10% increase. There were no changes recorded between 2017 and 2023.

What is the land classification for Kundrathur New Town?

Kundrathur New Town is classified as Residential Class III Type - V. This classification affects the guideline value and property usage in the area.

What are the stamp duty and registration fees for properties in Kundrathur New Town?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 34,40,000, the total fees would be Rs 3,09,600.

Where can I find the Sub Registrar Office for Kundrathur New Town?

The Kundrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles all property registrations in the area.