Guideline Value for KARAN GARDEN

Karan Garden guideline value

The current guideline value of Karan Garden, located in Saidapet village, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - III.

How the guideline value of Karan Garden has changed

The guideline value for Karan Garden has undergone several revisions over the years. In 2002, the guideline value was Rs 822 per sq.ft, which increased to Rs 946 per sq.ft in 2003. The value then rose to Rs 1,300 per sq.ft in 2007, followed by a significant increase to Rs 2,500 per sq.ft in 2012. However, it saw a decrease 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, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 235%. The register has no figures for the years between 2017 and 2023, and no other years have figures listed for this street.

Guideline values in Saidapet

Saidapet village has a total of 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. The median value for these streets is Rs 3,300 per sq.ft, placing Karan Garden's 2024 figure below that median.

• Karan Garden 1st Street: Rs 2,750 per sq.ft (2024)
• Karan Garden 2nd Street: Rs 2,750 per sq.ft (2024)
• Karan Garden 3rd Street: Rs 2,750 per sq.ft (2024)
• Karaneeswarar Koil Street: Rs 4,950 per sq.ft (2024)
• Karunanidhi 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Karunanidhi 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Karan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be 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 more accurate estimates.

Which Sub Registrar Office covers Karan Garden?

Karan Garden falls under 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Karan Garden?

The current guideline value of Karan Garden 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 a total increase of 235% over this period.

What are the stamp duty and registration fees for property in Karan Garden?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000. The stamp duty at 7% is Rs 1,92,500, and the registration fee at 2% is Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Karan Garden?

Karan Garden is covered by 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.

What is the land classification of Karan Garden?

Karan Garden is classified as Residential Class IV Type - III, indicating its designation for residential use within the Chennai South Joint I SRO.