Guideline Value for KARIKALAN STREET

Karikalan Street guideline value

The current guideline value of Karikalan Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Karikalan Street has changed

Over the years, the guideline value of Karikalan Street has seen significant changes. The earliest recorded figure in the register is from 2002, which was Rs 1,396 per sq.ft. This increased to Rs 1,544 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,800 per sq.ft in 2007, a jump of 17%. The 2012 revision recorded the value at Rs 10,000 per sq.ft, reflecting a substantial increase of 456%. However, in 2017, the guideline value dropped to Rs 6,700 per sq.ft, a decrease of 33%. Following this, the 2023 revision set the value at Rs 10,000 per sq.ft, an increase of 49%. The most recent revision in 2024 has established the current value at Rs 11,000 per sq.ft, which is a 10% increase from the previous year.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value is Rs 9,900 per sq.ft, placing Karikalan Street's 2024 figure above this median.

• Kannappa Nagar Extn: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 4th Street: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 4th Cross Street: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 3rd Street: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 3rd Main Road: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 3rd Cross Street: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Karikalan Street

For a 1,000 sq.ft plot at the current rate of Rs 11,000 per sq.ft, the guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karikalan Street?

The Sub Registrar Office that covers Karikalan 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Karikalan Street?

The current guideline value of Karikalan Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,396 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 688% over the years.

What is the land classification for Karikalan Street?

Karikalan Street is classified as Residential Special Type - II, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Karikalan Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,10,00,000, the total fees would amount to Rs 9,90,000.