Guideline Value for KALAIGNAR KARUNANITHI NAGAR (WARD -2)

Kalaignar Karunanithi Nagar (Ward -2) guideline value

The current guideline value of Kalaignar Karunanithi Nagar (Ward -2) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village, under the Chengleput Joint II SRO, and is classified as Residential Class II Type - II.

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

Looking at the historical revisions, the guideline value for this street has seen several changes over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following that, the value increased to Rs 400 per sq.ft in the 2023 revision, and most recently, it has risen to Rs 440 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the increase from 2017 to 2023 was significant at 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, placing Kalaignar Karunanithi Nagar (Ward -2) below that median.

• Kalaimagal Nagar, Ninnakarai (Ward -19): Rs 660 per sq.ft (2024)
• Kaithe Millath Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kalaivanar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Kaaraikazhani (Ward -2): Rs 440 per sq.ft (2024)
• Kaanthaliamman Koil Street (Ward -15): Rs 550 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 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

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, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Panangottur. It is used to determine the minimum value at which a property can be registered, ensuring that the transaction is officially recognized by the authorities.

When buying or selling property, the guideline value will influence the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that all transactions are conducted transparently and fairly in accordance with government regulations.

Frequently asked questions

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

The current guideline value of Kalaignar Karunanithi Nagar (Ward -2) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Kalaignar Karunanithi Nagar (Ward -2)?

Kalaignar Karunanithi Nagar (Ward -2) is classified as Residential Class II Type - II.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is the stamp duty calculated for properties in Kalaignar Karunanithi Nagar (Ward -2)?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% based on the guideline value.