Guideline Value for KAARAIKAZHANI (WARD -2)

Kaaraikazhani (Ward -2) guideline value

The current guideline value of Kaaraikazhani (Ward -2) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Kaaraikazhani (Ward -2) has changed

The guideline value for Kaaraikazhani (Ward -2) has seen several revisions over the years. In the 2012 revision, the value was set at Rs 600 per sq.ft. This was followed by a decrease in the 2017 revision to Rs 402 per sq.ft, marking a decline of 33%. The value then increased significantly in the 2023 revision to Rs 600 per sq.ft, and further rose by 10% to Rs 660 per sq.ft in the 2024 revision.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures for this street in the 2002, 2003, and 2007 revisions.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, which means that the 2024 figure for Kaaraikazhani is below that median.

• Kaanthaliamman Koil Street: Rs 660 per sq.ft (2024)
• J.V.Avenue: Rs 660 per sq.ft (2024)
• Jrk School (N): Rs 1,321 per sq.ft (2024)
• J P Watch Man (Per): Rs 660 per sq.ft (2024)
• Kaithe Millath Street: Rs 1,321 per sq.ft (2024)
• Kalaignar Karunanithi Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kaaraikazhani (Ward -2)

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. Please note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaaraikazhani (Ward -2)?

The Sub Registrar Office that covers Kaaraikazhani (Ward -2) 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 Ninna Karai

The guideline value is an essential factor when buying or selling property in Ninna Karai, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with the registration requirements. The registration office will use this value to assess the applicable charges, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Kaaraikazhani (Ward -2)?

The current guideline value of Kaaraikazhani (Ward -2) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Kaaraikazhani?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Kaaraikazhani (Ward -2)?

The Chengleput Joint II Sub Registrar Office handles registrations for Kaaraikazhani (Ward -2), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is crucial as it sets the minimum price for property registration and is used to calculate the applicable stamp duty and registration fees during a transaction.