Guideline Value for KALAIGNAR KARUNANITHI NAGAR (WARD -2)

Kalaignar Karunanithi Nagar (Ward -2) guideline value

The current guideline value for Kalaignar Karunanithi Nagar (Ward -2) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - III.

How the guideline value of Kalaignar Karunanithi Nagar (Ward -2) has changed

The guideline value for Kalaignar Karunanithi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which then saw a decrease to Rs 402 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 600 per sq.ft in 2023, and then rose again to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing the 2024 figure for Kalaignar Karunanithi Nagar below the median.

• Kalaimagal Nagar, Ninnakarai (Ward -19): Rs 660 per sq.ft (2024)
• Kaithe Millath Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kalaivanar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Kaaraikazhani (Ward -2): Rs 660 per sq.ft (2024)
• Kaanthaliamman Koil Street (Ward -15): Rs 660 per sq.ft (2024)
• J.V.Avenue (Ward -19): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Karunanithi Nagar (Ward -2)

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value is 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. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaignar Karunanithi Nagar (Ward -2)?

The Sub Registrar Office that covers Kalaignar Karunanithi Nagar (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 plays a crucial role in the registration process when buying or selling property in Ninna Karai. It is the minimum value set by the government for the purpose of calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is transparent and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Kalaignar Karunanithi Nagar (Ward -2)?

The current guideline value for Kalaignar Karunanithi Nagar (Ward -2) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with the most recent revision in 2024 seeing an increase to Rs 660 per sq.ft from Rs 600 per sq.ft in 2023. The value has also increased from Rs 402 per sq.ft in 2017.

What is the land classification for Kalaignar Karunanithi Nagar?

Kalaignar Karunanithi Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where is the Chengleput Joint II SRO located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 6,60,000, the stamp duty would be calculated accordingly.