Guideline Value for KARUNAI STREET

Karunai Street guideline value

The current guideline value of Karunai Street in Ekkaduthangal village is Rs 3,080 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Karunai Street has changed

The guideline value for Karunai Street has undergone several revisions over the years. In 2002, the value was Rs 439 per sq.ft, which increased to Rs 506 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,000 per sq.ft in 2007, and then it jumped to Rs 2,800 per sq.ft in 2012. However, there was a decrease to Rs 1,876 per sq.ft in 2017. The value rose again to Rs 2,800 per sq.ft in 2023, and currently stands at Rs 3,080 per sq.ft in 2024. The register has no figure for the years not mentioned in the revisions.

Between the revisions, the following changes occurred: from 2002 to 2003, there was an increase of 15%; from 2003 to 2007, it rose by 98%; from 2007 to 2012, there was a substantial increase of 180%; however, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 602%.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. The guideline value of Karunai Street is below this median.

• Karpa Vinayagar Koil Street: Rs 3,520 per sq.ft (2024)
• Kasthuribai Gandhi Nagar: Rs 4,620 per sq.ft (2024)
• Kattabomman Street: Rs 4,620 per sq.ft (2024)
• Kaveri Street: Rs 3,080 per sq.ft (2024)
• Kannan Street: Rs 3,520 per sq.ft (2024)
• Kannagi Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Karunai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value would be Rs 30,80,000. The stamp duty, charged at 7%, would amount to Rs 2,15,600, while the registration fee at 2% would be Rs 61,600. Together, the total cost for stamp duty and registration fee would be Rs 2,77,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karunai Street?

The Sub Registrar Office that covers Karunai 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 Ekkaduthangal

The guideline value plays a crucial role in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring that the transaction is recorded accurately.

When a property is sold, the registration office will refer to the guideline value to assess the appropriate fees. This helps maintain transparency in property transactions and ensures that the values are consistent across the board. It is important for buyers and sellers to consider the guideline value when planning their transactions.

Frequently asked questions

What is the current guideline value of Karunai Street?

The current guideline value of Karunai Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 439 per sq.ft in 2002 to Rs 3,080 per sq.ft in 2024, reflecting an overall increase of 602% over the years.

What is the registration fee for property in Karunai Street?

The registration fee for property in Karunai Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the registration fee would be Rs 61,600.

Which Sub Registrar Office covers Ekkaduthangal?

The Chennai South Joint I Sub Registrar Office covers Ekkaduthangal, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for assessing the appropriate fees that need to be paid at the time of registration.