Guideline Value for KARIKALAN STREET

Karikalan Street guideline value

The current guideline value of Karikalan Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, and it is classified as Commercial Class I Type - III.

How the guideline value of Karikalan Street has changed

Over the years, the guideline value of Karikalan Street has seen several revisions. The earliest recorded revision is from 2007, where the value was Rs 150 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a notable increase of 767%. However, from 2012 to 2017, the value decreased by 33% to Rs 871 per sq.ft. The subsequent revisions saw an increase to Rs 1,300 per sq.ft in both 2023 and 2024, with no change from 2023 to 2024.

Looking at the changes, from 2017 to 2023, there was an increase of 49%, bringing the value back to Rs 1,300 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value of Karikalan Street is above this median.

• Kanniayamman Koil Street: Rs 1,300 per sq.ft (2024)
• Karunanithi Nagar 1st Cross Street: Rs 1,300 per sq.ft (2024)
• Karunanithi Nagar 2nd Cross Street: Rs 1,300 per sq.ft (2024)
• Karunanithi Nagar 3rd Cross Street: Rs 1,000 per sq.ft (2024)
• Karunanithi Nagar 4th Cross Street: Rs 1,300 per sq.ft (2024)
• Kannaki Street: Rs 700 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 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 details.

Which Sub Registrar Office covers Karikalan Street?

The Sub Registrar Office that covers Karikalan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Vengathur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is documented accurately. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Karikalan Street?

The current guideline value of Karikalan Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly from Rs 150 per sq.ft to Rs 1,300 per sq.ft in 2024, marking an overall increase of 767%.

What is the land classification of Karikalan Street?

Karikalan Street is classified as Commercial Class I Type - III under the Manavalanagar SRO.

What are the stamp duty and registration fees for properties on Karikalan Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft property, the total fees would amount to Rs 1,17,000.

Where is the Sub Registrar Office for Karikalan Street located?

The Manavalanagar Sub Registrar Office is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.