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Guideline Value

Corporate

Guideline Value for KARAN GARDEN 2ND STREET

₹2750/sq.ft.

The guideline value for Karan Garden 2nd Street in Saidapet village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Saidapet

Village

Chennai South Joint I

SRO

Residential Class IV Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹946 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹822 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Karan Garden 2nd Street

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Karan Garden 2nd Street guideline value

The current guideline value for Karan Garden 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint I SRO, with a land classification of Residential Class IV Type - III.

How the guideline value of Karan Garden 2nd Street has changed

Since the 2002 revision, the guideline value for Karan Garden 2nd Street has seen significant changes. The value started at Rs 822 per sq.ft in 2002 and increased to Rs 946 per sq.ft in 2003. Following this, the value rose to Rs 1,300 per sq.ft in 2007, then to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017, before climbing to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft.

In terms of percentage changes, the guideline value increased by 15% from 2002 to 2003, by 37% from 2003 to 2007, and by 92% from 2007 to 2012. There was a decrease of 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 saw an increase of 10%. Overall, from 2002 to 2024, the guideline value has increased by 235%.

Guideline values in Saidapet

Saidapet village has 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. Karan Garden 2nd Street's 2024 guideline value is below this median.

Stamp duty and registration fee for property in Karan Garden 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 further calculations.

Which Sub Registrar Office covers Karan Garden 2nd Street?

The Sub Registrar Office that covers Karan Garden 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Saidapet. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is registered at a value that reflects the official rates set by the government.

It is essential for buyers and sellers to be aware of the guideline value when engaging in property transactions. The value can influence the overall costs associated with buying or selling a property, making it a significant factor in the registration process.

Frequently asked questions

What is the current guideline value for Karan Garden 2nd Street?

The current guideline value for Karan Garden 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 822 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 235% over this period.

What is the stamp duty rate for properties in Karan Garden 2nd Street?

The stamp duty rate for properties in Karan Garden 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Karan Garden 2nd Street?

The Sub Registrar Office for Karan Garden 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value determined for properties in Saidapet?

The guideline value for properties in Saidapet is determined by the Registration Department's guideline value register, which is updated periodically to reflect changes in property values across different streets in the area.