Guideline Value for DR.APJ ABDULKALAM NAGAR

Dr.Apj Abdulkalam Nagar guideline value

The current guideline value of Dr.Apj Abdulkalam Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Karunilam village and falls under the Chengleput Joint II SRO, with a land classification of Residential Special Type - I.

How the guideline value of Dr.Apj Abdulkalam Nagar has changed

Over the years, the guideline value of Dr.Apj Abdulkalam Nagar has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value was Rs 469 per sq.ft, marking a significant increase of 49% to Rs 700 per sq.ft in 2023. The 2024 revision also retains the value at Rs 700 per sq.ft, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the 2012 revision to the 2024 revision, there is a 0% change in the guideline value.

Guideline values in Karunilam

In Karunilam, there are 35 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 1,200 per sq.ft, with a median value of Rs 501 per sq.ft. The guideline value for Dr.Apj Abdulkalam Nagar is above this median.

• Chennai Metropolitan Co- Op Society: Rs 700 per sq.ft (2024)
• Boopathy Nagar Phase-II: Rs 500 per sq.ft (2024)
• Boopathy Nagar Phase-I: Rs 500 per sq.ft (2024)
• Boopathy Nagar: Rs 500 per sq.ft (2024)
• A.T.S. Royal Garden: Rs 700 per sq.ft (2024)
• Mahalakshmi nagar: Rs 501 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.Apj Abdulkalam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr.Apj Abdulkalam Nagar?

The Sub Registrar Office that covers Dr.Apj Abdulkalam Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karunilam. It serves as the basis for calculating stamp duty and registration fees, ensuring that all transactions are recorded accurately and fairly.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable taxes and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dr.Apj Abdulkalam Nagar?

The current guideline value of Dr.Apj Abdulkalam Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen revisions in 2012, 2017, 2023, and 2024, with the most recent value remaining at Rs 700 per sq.ft. From 2017 to 2023, the value increased by 49% from Rs 469 per sq.ft.

What are the stamp duty and registration fees for property in Dr.Apj Abdulkalam Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 63,000. This includes Rs 49,000 for stamp duty and Rs 14,000 for registration fees.

Which Sub Registrar Office covers Dr.Apj Abdulkalam Nagar?

The Chengleput Joint II Sub Registrar Office covers Dr.Apj Abdulkalam Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Dr.Apj Abdulkalam Nagar?

The land classification for Dr.Apj Abdulkalam Nagar is Residential Special Type - I, indicating its suitability for residential development.