Guideline Value for KALAIGNAR KARUNANITHI STREET (WARD-20)

Kalaignar Karunanithi Street (Ward-20) guideline value

The current guideline value of Kalaignar Karunanithi Street (Ward-20) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Kalaignar Karunanithi Street (Ward-20) has changed

The guideline value for Kalaignar Karunanithi Street has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,100 per sq.ft. The register has no figure for this street for the years 2002, 2003, and 2007.

Between the revisions, the changes were significant. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The value then increased by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value of Kalaignar Karunanithi Street is above this median.

• Kakkan Street Mgr Nagar (Ward-20): Rs 880 per sq.ft (2024)
• Kalaimagal Street (Ward-21): Rs 660 per sq.ft (2024)
• Kalaivani Nagar Main Road (Ward -1): Rs 770 per sq.ft (2024)
• Kaathavarayan Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Kamarajar Street (Ward-21): Rs 660 per sq.ft (2024)
• Kamatchi Nagar (Val): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Karunanithi Street (Ward-20)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaignar Karunanithi Street (Ward-20)?

The Sub Registrar Office that covers Kalaignar Karunanithi Street (Ward-20) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Konathi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from the transaction.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs for the transaction. This ensures transparency and helps in maintaining a standard procedure for property registration in the region.

Frequently asked questions

What is the current guideline value of Kalaignar Karunanithi Street (Ward-20)?

The current guideline value of Kalaignar Karunanithi Street (Ward-20) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Kalaignar Karunanithi Street?

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

Where can I find the Chengleput Joint II SRO?

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 this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.