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 550 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - II.

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

The guideline value for Kalaignar Karunanithi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. Following this, the value increased to Rs 500 per sq.ft in 2023, and finally rose to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The most significant change occurred between 2017 and 2023, where the value increased by 49%. The decrease from 2012 to 2017 was 33%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Kalaignar Karunanithi Nagar (Ward -2) is below this median.

• Kalaimagal Nagar, Ninnakarai (Ward -19): Rs 661 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 550 per sq.ft (2024)
• Kaanthaliamman Koil Street (Ward -15): Rs 660 per sq.ft (2024)
• J.V.Avenue (Ward -19): Rs 661 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 guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, leading to a total cost of Rs 49,500. 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 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 Peramanoor

The guideline value is a crucial factor during the registration of property transactions in Peramanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price of the property.

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 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

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

The land classification for Kalaignar Karunanithi Nagar (Ward -2) is Residential Class II Type - II.

Which Sub Registrar Office handles property registration in this area?

The Chengleput Joint II Sub Registrar Office handles property registration for Kalaignar Karunanithi Nagar (Ward -2), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 38,500.