Guideline Value for KARUNAI NAGAR

Karunai Nagar guideline value

The current guideline value of Karunai Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Maiyur village under the Chengleput Joint II SRO and is classified as Residential Class I Type - I.

How the guideline value of Karunai Nagar has changed

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 268 per sq.ft, marking a decline of 33%. The value then increased significantly by 49% to Rs 400 per sq.ft in the 2023 revision, which has remained the same in the 2024 revision, showing no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for Karunai Nagar. Therefore, the only revisions available are from 2012, 2017, 2023, and 2024, with the current guideline value reflecting a stable position since 2023.

Guideline values in Maiyur

In Maiyur, there are 28 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 700 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the 2024 figure for Karunai Nagar.

• Krishna Nagar: Rs 400 per sq.ft (2024)
• Magalakshmi Nagar: Rs 400 per sq.ft (2024)
• Indirangandhi Town: Rs 700 per sq.ft (2024)
• Hariyagrivar Nagar: Rs 400 per sq.ft (2024)
• Green Park Avenue: Rs 400 per sq.ft (2024)
• Green City: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Karunai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. 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 precise calculations.

Which Sub Registrar Office covers Karunai Nagar?

The Sub Registrar Office that covers Karunai Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Maiyur

The guideline value plays a crucial role during the registration of property transactions in Maiyur. 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 compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Karunai Nagar?

The current guideline value of Karunai Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent figures being Rs 400 per sq.ft in both 2023 and 2024. The value was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What is the classification of land in Karunai Nagar?

Karunai Nagar is classified as Residential Class I Type - I. This classification is important for understanding the intended use of the land.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in that area.

How is stamp duty calculated in Karunai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 4,00,000, the stamp duty would be calculated at 7% of that amount.