Guideline Value for KARANAI MAIN ROAD

Karanai Main Road guideline value

The current guideline value of Karanai Main Road in Arasankalani village is Rs 2,100 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Karanai Main Road has changed

The guideline value for Karanai Main Road has undergone several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 has further increased the guideline value to Rs 2,100 per sq.ft, marking a 5% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 5%.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value for these streets is Rs 2,100 per sq.ft, which is the same as the current guideline value for Karanai Main Road.

• Kanni Koil Street: Rs 2,400 per sq.ft (2024)
• Kamatchi Street: Rs 1,300 per sq.ft (2024)
• Kamarajar Street: Rs 2,100 per sq.ft (2024)
• Kakkan Street: Rs 1,300 per sq.ft (2024)
• Jeevanandam Street: Rs 1,300 per sq.ft (2024)
• Jeeva Avenue: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Karanai Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, while the registration fee at 2% would be Rs 42,000. Together, the total cost for these fees would be Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karanai Main Road?

The Karanai Main Road is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Arasankalani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. This value is essential for ensuring that the transaction is recorded accurately in the official records.

When buyers and sellers engage in a property transaction, the guideline value helps establish the minimum value at which the property can be registered. This ensures transparency and compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Karanai Main Road?

The current guideline value of Karanai Main Road is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,100 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on Karanai Main Road?

For a 1,000 sq.ft property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000 and the registration fee would be Rs 42,000, totaling Rs 1,89,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the guideline value determined for properties in Arasankalani?

The guideline value is determined by the Registration Department and is based on various factors, including the location and classification of the land. It serves as a reference point for calculating stamp duty and registration fees during property transactions.