Guideline Value for 200 FEET ROAD

200 Feet Road guideline value

The current guideline value of 200 Feet Road in Karambakkam village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of 200 Feet Road has changed

The guideline value of 200 Feet Road has seen several revisions over the years. In 2012, the value was set at Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024, marking a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, while from 2017 to 2023, it increased by 49%. Overall, the guideline value saw a 10% increase from 2012 to 2024, reflecting the fluctuations in the property market.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,930 per sq.ft, which means that the 2024 guideline value of 200 Feet Road is above this median.

• Vivekanandar Street: Rs 1,650 per sq.ft (2024)
• Viswanathan 2nd Street: Rs 2,480 per sq.ft (2024)
• Visvanathan Main Road: Rs 2,480 per sq.ft (2024)
• Visvanathan Main Cross Road: Rs 2,480 per sq.ft (2024)
• Visvanathan 4th Cross Street: Rs 2,480 per sq.ft (2024)
• Visvanathan 3rd Cross Street: Rs 2,480 per sq.ft (2024)

Stamp duty and registration fee for property in 200 Feet Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers 200 Feet Road?

The Sub Registrar Office that covers 200 Feet Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karambakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value as per government standards.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of 200 Feet Road?

The current guideline value of 200 Feet Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. It was Rs 2,345 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the registration office for 200 Feet Road?

The registration office for 200 Feet Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the stamp duty rates for properties in Karambakkam?

The stamp duty for properties in Karambakkam is charged at a rate of 7% on the guideline value or sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

What is the land classification of 200 Feet Road?

200 Feet Road is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.