Guideline Value for KARANEESWARAR KOIL STREET

Karaneeswarar Koil Street guideline value

The current guideline value of Karaneeswarar Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Karaneeswarar Koil Street has changed

The guideline value for Karaneeswarar Koil Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 822 per sq.ft. This increased to Rs 946 per sq.ft in 2003, marking a 15% rise. The value further increased to Rs 1,300 per sq.ft in 2007, which was a significant jump of 37%. In the 2012 revision, the guideline value was Rs 4,500 per sq.ft, a decrease of 246% from the previous revision. The next revision in 2017 saw a rise to Rs 3,015 per sq.ft, an increase of 49%. The 2023 revision set the value at Rs 4,500 per sq.ft, and the current 2024 revision has raised it to Rs 4,950 per sq.ft, reflecting a 10% increase.

There are no figures available for the guideline value of Karaneeswarar Koil Street for the years not listed in the revisions. Overall, from 2002 to 2024, the guideline value has increased by 502%.

Guideline values in Saidapet

In Saidapet, there are 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 guideline value in this area is Rs 3,300 per sq.ft, placing Karaneeswarar Koil Street's 2024 figure above this median.

• Karan Garden: Rs 2,750 per sq.ft (2024)
• 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)
• 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 Karaneeswarar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost together to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Karaneeswarar Koil Street?

The Sub Registrar Office that covers Karaneeswarar Koil 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 additional details.

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

The guideline value plays a crucial role during the registration of property transactions in Saidapet. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Buyers and sellers should ensure they are informed about the latest revisions to avoid any discrepancies during transactions.

Frequently asked questions

What is the current guideline value of Karaneeswarar Koil Street?

The current guideline value of Karaneeswarar Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 822 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 502% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500, and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles property registrations for Karaneeswarar Koil Street?

The Chennai South Joint I Sub Registrar Office is responsible for property registrations in Karaneeswarar Koil Street, 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 is determined based on various factors and is revised periodically by the Registration Department. It is essential for calculating the stamp duty and registration fees during property transactions.