Guideline Value for KARUNANITHI NAGAR 1ST CROSS STREET

Karunanithi Nagar 1st Cross Street guideline value

The current guideline value of Karunanithi Nagar 1st Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the jurisdiction of the Manavalanagar SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Karunanithi Nagar 1st Cross Street has changed

The guideline value for Karunanithi Nagar 1st Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 150 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 767%. However, from 2012 to 2017, the value decreased to Rs 871 per sq.ft, a drop of 33%. The value then increased to Rs 1,300 per sq.ft in 2023, maintaining the same rate in 2024, resulting in a 49% increase from the previous revision.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that have a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, which means that the guideline value for Karunanithi Nagar 1st Cross Street is above this median.

• KARUNANITHI NAGAR 2nd CROSS STREET: Rs 1,300 per sq.ft (2024)
• KARUNANITHI NAGAR 3rd CROSS STREET: Rs 1,000 per sq.ft (2024)
• KARUNANITHI NAGAR 4th CROSS STREET: Rs 1,300 per sq.ft (2024)
• Kattapomman Street: Rs 1,000 per sq.ft (2024)
• Kaveri Sreet: Rs 1,300 per sq.ft (2024)
• Karikalan Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanithi Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would amount to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total charges to Rs 1,17,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Karunanithi Nagar 1st Cross Street?

The Sub Registrar Office that covers Karunanithi Nagar 1st Cross Street is the Manavalanagar Sub Registrar Office. The office is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property transaction occurs, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Karunanithi Nagar 1st Cross Street?

The current guideline value of Karunanithi Nagar 1st Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with a rise from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, followed by a decrease to Rs 871 per sq.ft in 2017, and then back to Rs 1,300 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office is responsible for this street?

The Manavalanagar Sub Registrar Office covers Karunanithi Nagar 1st Cross Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What is the land classification for Karunanithi Nagar 1st Cross Street?

The land classification for Karunanithi Nagar 1st Cross Street is Commercial Class I Type - III, indicating its suitability for commercial activities.