Guideline Value for Dr. Karunanithi Street

Dr. Karunanithi Street guideline value

The current guideline value of Dr. Karunanithi Street is Rs 2,310 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO and is classified as Residential Class II Type - I.

How the guideline value of Dr. Karunanithi Street has changed

Over the years, the guideline value of Dr. Karunanithi Street has seen significant changes. Starting from Rs 250 per sq.ft in 2007, it increased dramatically to Rs 2,100 per sq.ft in 2012, marking a rise of 740%. However, it then decreased to Rs 1,407 per sq.ft in 2017, a decline of 33%. The value continued to rise, reaching Rs 2,100 per sq.ft in 2023, and finally increasing to the current value of Rs 2,310 per sq.ft in 2024, which is a 10% increase from the previous year.

The revisions for the years 2002 and 2003 do not have figures for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 824%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a guideline value for 2024, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is equal to the current guideline value of Dr. Karunanithi Street.

• Drowpathy Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Dr Radhakrishnan Road: Rs 1,980 per sq.ft (2024)
• Durai Elumalai Street: Rs 1,980 per sq.ft (2024)
• Durga Theru: Rs 1,650 per sq.ft (2024)
• Dinakar Street: Rs 2,310 per sq.ft (2024)
• EB Colony: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Karunanithi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, totaling Rs 2,07,900. 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. Karunanithi Street?

The Sub Registrar Office that covers Dr. Karunanithi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official values set by the government.

When a property is sold, the guideline value is used to assess the applicable charges, which are mandatory for registration. Buyers and sellers must be aware of these values to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Dr. Karunanithi Street?

The current guideline value of Dr. Karunanithi Street is Rs 2,310 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 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 824% over the years.

What is the land classification for Dr. Karunanithi Street?

Dr. Karunanithi Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Dr. Karunanithi Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 1,61,700.