Guideline Value for KARUNANIDHI STREET & SALAI

Karunanidhi Street & Salai guideline value

The current guideline value of Karunanidhi Street & Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Karunanidhi Street & Salai has changed

The guideline value for Karunanidhi Street & Salai has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 2,010 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1 under the Neelankarai SRO, there are 754 streets with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Karunanidhi Street & Salai's 2024 figure is above this median.

• Kathari Mohideen Thottam: Rs 1,700 per sq.ft (2024)
• Kanni Street (Grama Nedunchalai 34th Cross Street): Rs 2,200 per sq.ft (2024)
• Kanni Lane: Rs 1,700 per sq.ft (2024)
• Kothari Avenue: Rs 4,400 per sq.ft (2024)
• K.P.V.Nagar: Rs 1,700 per sq.ft (2024)
• Kamarajar Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanidhi Street & Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be 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, making the total cost for these fees Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karunanidhi Street & Salai?

The Neelankarai Sub Registrar Office covers Karunanidhi Street & Salai. The office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a critical factor when registering property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is essential for calculating taxes and fees associated with the transaction, ensuring transparency in property dealings.

Frequently asked questions

What is the current guideline value of Karunanidhi Street & Salai?

The current guideline value of Karunanidhi Street & Salai 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 increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the median guideline value for streets in Sholinganallur - 1?

The median guideline value for streets in Sholinganallur - 1 is Rs 2,200 per sq.ft, and Karunanidhi Street & Salai's 2024 figure is above this median.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Karunanidhi Street & Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.