Guideline Value for KALAINGAR KARUNANIDHI STREET

Kalaingar Karunanidhi Street guideline value

The current guideline value of Kalaingar Karunanidhi Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kalaingar Karunanidhi Street has changed

The guideline value for Kalaingar Karunanidhi Street has seen significant changes over the years. The earliest recorded revision in 2003 set the value at Rs 86 per sq.ft. This increased to Rs 200 per sq.ft in 2007, marking a substantial rise of 133%. The value then jumped dramatically to Rs 2,500 per sq.ft in 2012, reflecting an increase of 1150%. However, in 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,800 per sq.ft in 2024, representing a 12% increase.

Overall, from 2003 to 2024, the guideline value has increased by 3156%. The register has no figure for the year 2002 for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing the 2024 figure for Kalaingar Karunanidhi Street above this median.

• Kailash Garden: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar: Rs 3,300 per sq.ft (2024)
• Kamaraj Street: Rs 3,300 per sq.ft (2024)
• Kamatchi Nagar/Sri Kamatchi Nagar: Rs 1,800 per sq.ft (2024)
• Jayaraj Garden: Rs 1,100 per sq.ft (2024)
• Jayapal Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaingar Karunanidhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. 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 Kalaingar Karunanidhi Street?

The Sub Registrar Office that covers Kalaingar Karunanidhi Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential reference point when buying or selling property in Chemmancheri. It is used to determine the stamp duty and registration fees applicable during the transaction, ensuring that both parties are aware of the official property value as set by the government.

When registering a property, the guideline value helps in calculating the costs involved in the transaction. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can significantly impact the total expenses incurred during the purchase.

Frequently asked questions

What is the current guideline value of Kalaingar Karunanidhi Street?

The current guideline value of Kalaingar Karunanidhi Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 86 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 3156% over this period.

What is the land classification for Kalaingar Karunanidhi Street?

Kalaingar Karunanidhi Street is classified as Residential Class II Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Chemmancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at a rate of 7%.