Guideline Value for KARUNANIDHI SALAI 16TH CROSS STREET

Karunanidhi Salai 16th Cross Street guideline value

The current guideline value of Karunanidhi Salai 16th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Karunanidhi Salai 16th Cross Street has changed

The guideline value for Karunanidhi Salai 16th Cross Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 550 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 2,500 per sq.ft, an increase of 355%. However, the 2017 revision marked a decrease to Rs 1,675 per sq.ft, a drop of 33%. The value then increased again to Rs 2,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 2,700 per sq.ft, an increase of 8% from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 391%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which aligns with the current guideline value of Karunanidhi Salai 16th Cross Street.

• Karunanidhi Salai 15th Cross Street: Rs 2,700 per sq.ft (2024)
• Karunanidhi Salai 17th Cross Street: Rs 2,700 per sq.ft (2024)
• Karunanidhi Salai 14th Cross Street: Rs 2,700 per sq.ft (2024)
• Karunanidhi Salai 1st Street: Rs 2,700 per sq.ft (2024)
• Karunanidhi Salai 13th Cross Street: Rs 2,700 per sq.ft (2024)
• Karunanidhi Salai 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi Salai 16th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karunanidhi Salai 16th Cross Street?

The Sub Registrar Office that covers Karunanidhi Salai 16th Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process for property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for tax purposes.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware of the guideline value to understand their financial obligations during the purchase process.

Frequently asked questions

What is the current guideline value of Karunanidhi Salai 16th Cross Street?

The current guideline value of Karunanidhi Salai 16th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 550 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 391% over this period.

What are the other streets in Perambur with the same guideline value?

Other streets in Perambur with the same guideline value of Rs 2,700 per sq.ft include Karunanidhi Salai 15th Cross Street, 17th Cross Street, 14th Cross Street, 1st Street, 13th Cross Street, and 2nd Street.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Karunanidhi Salai 16th Cross Street?

The Sub Registrar Office for Karunanidhi Salai 16th Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.