Guideline Value for KARUNAGARAN STREET

Karunagaran Street guideline value

The current guideline value of Karunagaran Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Karunagaran Street has changed

The guideline value for Karunagaran Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 1,300 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, representing a 131% increase. However, in 2017, the value decreased to Rs 2,010 per sq.ft, which was a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, marking a 49% increase. The current revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Karunagaran Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 154%.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Karunagaran Street's 2024 guideline value is below this median.

• Karaneeswarar Koil Street: Rs 5,500 per sq.ft (2024)
• Kavarai Street: Rs 4,950 per sq.ft (2024)
• Kannagi Street: Rs 4,400 per sq.ft (2024)
• Kambar Street: Rs 5,500 per sq.ft (2024)
• Kodha Medu: Rs 3,300 per sq.ft (2024)
• Kothavalchavadi Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Karunagaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. 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 Karunagaran Street?

The Sub Registrar Office that covers Karunagaran Street is the Chennai South Joint II 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 details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the market conditions and property values in the area.

Frequently asked questions

What is the current guideline value of Karunagaran Street?

The current guideline value of Karunagaran Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 154% over the years.

What are the other streets in Saidapet with their guideline values?

Other streets in Saidapet include Karaneeswarar Koil Street at Rs 5,500 per sq.ft, Kavarai Street at Rs 4,950 per sq.ft, and Kannagi Street at Rs 4,400 per sq.ft, among others.

Where is the Sub Registrar Office for Karunagaran Street located?

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

How is stamp duty calculated for properties in Saidapet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty would be calculated on this amount if it is higher than the sale price.