Guideline Value for KALAIGNAR KARUNANIDHI STREET

Kalaignar Karunanidhi Street guideline value

The current guideline value of Kalaignar Karunanidhi Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kalaignar Karunanidhi Street has changed

The guideline value for Kalaignar Karunanidhi Street has undergone several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 1,251 per sq.ft. This increased to Rs 1,384 per sq.ft in 2003, followed by a decrease to Rs 1,300 per sq.ft in 2007. The value saw a significant rise to Rs 6,500 per sq.ft in 2012, but then dropped to Rs 4,355 per sq.ft in 2017. The 2023 revision set the value at Rs 6,500 per sq.ft, and the most recent 2024 revision has increased it to Rs 7,150 per sq.ft.

In terms of percentage changes, from 2002 to 2024, there has been an overall increase of 472%. Notably, the guideline value rose by 10% from 2023 to 2024, and by 49% from 2017 to 2023. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a remarkable increase of 400%. The 2003 to 2007 revision showed a slight decrease of 6%, and the 2002 to 2003 revision had an increase of 11%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value for Kalaignar Karunanidhi Street is below this median.

• Kalakshetra Avenue: Rs 11,000 per sq.ft (2024)
• Kalasethra Colony: Rs 12,660 per sq.ft (2024)
• Kalashetra Road: Rs 12,660 per sq.ft (2024)
• Justic Ramanujam Street: Rs 9,900 per sq.ft (2024)
• Justic Avenue: Rs 11,000 per sq.ft (2024)
• Journalist Colony: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Karunanidhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value amounts to Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, resulting in a total of Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaignar Karunanidhi Street?

The Sub Registrar Office that covers Kalaignar Karunanidhi Street 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, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Thiruvanmiyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that both the buyer and seller adhere to the legal requirements during the transaction.

When purchasing or selling property, the guideline value is compared to the sale price. The higher amount is used to determine the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kalaignar Karunanidhi Street?

The current guideline value of Kalaignar Karunanidhi Street is Rs 7,150 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 1,251 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 472%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500.

Which office handles registrations for Kalaignar Karunanidhi Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Kalaignar Karunanidhi Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the significance of the guideline value when buying property?

The guideline value is crucial as it determines the stamp duty and registration fees during property transactions, ensuring legal compliance in the buying and selling process.