Guideline Value for KARUNANIDHI 2ND STREET

Karunanidhi 2nd Street guideline value

The current guideline value of Karunanidhi 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Karunanidhi 2nd Street has changed

The guideline value of Karunanidhi 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 634 per sq.ft. This increased to Rs 730 per sq.ft in 2003, marking a 15% rise. By 2007, it further increased to Rs 850 per sq.ft, a change of 16%. The value saw a significant jump to Rs 2,500 per sq.ft in 2012, which was a 194% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years not mentioned in the register for this street. The overall change from 2002 to 2024 shows an increase of 334% in the guideline value.

Guideline values in Saidapet

Saidapet village has a total of 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Karunanidhi 2nd Street's 2024 figure below that median.

• Karunanidhi 1st Street: Rs 2,750 per sq.ft (2024)
• Karunanidhi 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Karan Garden 3rd Street: Rs 2,750 per sq.ft (2024)
• Karan Garden 2nd Street: Rs 2,750 per sq.ft (2024)
• Karan Garden 1st Street: Rs 2,750 per sq.ft (2024)
• Karan Garden: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. 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 Karunanidhi 2nd Street?

The Sub Registrar Office that covers Karunanidhi 2nd 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 Saidapet

The guideline value is an essential factor in the registration process when buying or selling property in Saidapet. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented accurately for legal purposes.

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

Frequently asked questions

What is the current guideline value of Karunanidhi 2nd Street?

The current guideline value of Karunanidhi 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 634 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 334% over the years.

What is the land classification of Karunanidhi 2nd Street?

Karunanidhi 2nd Street is classified as Residential Class IV Type - III.

What are the stamp duty and registration fees for property transactions?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,47,500, based on the current guideline value of Rs 27,50,000.

Which Sub Registrar Office is responsible for Karunanidhi 2nd Street?

The Chennai South Joint I Sub Registrar Office is responsible for Karunanidhi 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.