Guideline Value for KARUNANITHI NAGAR 2nd CROSS STREET

KARUNANITHI NAGAR 2nd CROSS STREET guideline value

The current guideline value of KARUNANITHI NAGAR 2nd CROSS STREET is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, and it falls under the Commercial Class I Type - III land classification.

How the guideline value of KARUNANITHI NAGAR 2nd CROSS STREET has changed

The guideline value for KARUNANITHI NAGAR 2nd CROSS STREET has seen several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012. However, it dropped to Rs 871 per sq.ft in 2017 before rising again to Rs 1,300 per sq.ft in both 2023 and 2024. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, and from 2012 to 2017, it decreased by 33%. The dramatic rise from 2007 to 2012 was 767%. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur village, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, placing KARUNANITHI NAGAR 2nd CROSS STREET above this median.

• Karunanithi Nagar 1st 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 2nd 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 be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KARUNANITHI NAGAR 2nd CROSS STREET?

The Sub Registrar Office that covers KARUNANITHI NAGAR 2nd CROSS STREET is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial aspect when registering property transactions in Vengathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of this value to ensure compliance with registration requirements and to avoid any legal issues during the transaction process.

Frequently asked questions

What is the current guideline value of KARUNANITHI NAGAR 2nd CROSS STREET?

The current guideline value of KARUNANITHI NAGAR 2nd CROSS STREET is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, increasing from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then dropping to Rs 871 per sq.ft in 2017, and returning to Rs 1,300 per sq.ft in 2023 and 2024.

What is the land classification for KARUNANITHI NAGAR 2nd CROSS STREET?

KARUNANITHI NAGAR 2nd CROSS STREET is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, which means that KARUNANITHI NAGAR 2nd CROSS STREET's current value is above this median.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering KARUNANITHI NAGAR 2nd CROSS STREET is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.