Guideline Value for KARUNANITHI CHOLAN NAGAR

Karunanithi Cholan Nagar guideline value

The current guideline value of Karunanithi Cholan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is situated in Okkiyamthuraipakkam village, under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Karunanithi Cholan Nagar has changed

The guideline value for Karunanithi Cholan Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 181 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking a substantial rise of 176%. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a 300% increase. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, followed by the current rate of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1115%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Karunanithi Cholan Nagar's 2024 figure below that median.

• Kep Avenue: Rs 5,000 per sq.ft (2024)
• Kanakavalli Avenue: Rs 1,100 per sq.ft (2024)
• KOKILAMBAL 1st NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 2nd NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 3rd NAGAR: Rs 1,700 per sq.ft (2024)
• KOKILAMBAL 4th NAGAR: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanithi Cholan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Karunanithi Cholan Nagar?

The Sub Registrar Office that covers Karunanithi Cholan Nagar is the Neelankarai Sub Registrar Office, 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 Okkiyamthuraipakkam

When buying or selling property in Okkiyamthuraipakkam, the guideline value is a critical factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which property transactions are registered, ensuring that the government receives appropriate revenue from property sales.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. This value is regularly updated, reflecting changes in the real estate market and local development.

Frequently asked questions

What is the current guideline value of Karunanithi Cholan Nagar?

The current guideline value of Karunanithi Cholan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 181 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1115%.

What is the registration office for Karunanithi Cholan Nagar?

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

What are the stamp duty and registration fees for property in Karunanithi Cholan Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator available online.