Guideline Value for KARUNANITHI NAGAR 3rd CROSS STREET

KARUNANITHI NAGAR 3rd CROSS STREET guideline value

The current guideline value of KARUNANITHI NAGAR 3rd CROSS STREET is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the Manavalanagar SRO, and is classified as Residential Class I Type - I.

How the guideline value of KARUNANITHI NAGAR 3rd CROSS STREET has changed

In the 2007 revision, the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a rise of 300%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, reflecting a drop of 33%. From 2017 to 2023, the value rose again to Rs 1,000 per sq.ft, showing a 49% increase. The most recent revision in 2024 maintained this value at Rs 1,000 per sq.ft, indicating no change from the previous year.

The register has no figure for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry 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, which is the same as the 2024 figure for KARUNANITHI NAGAR 3rd CROSS STREET.

• KARUNANITHI NAGAR 2nd CROSS STREET: Rs 1,300 per sq.ft (2024)
• KARUNANITHI NAGAR 4th CROSS STREET: Rs 1,300 per sq.ft (2024)
• Karunanithi Nagar 1st 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 3rd CROSS STREET

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers KARUNANITHI NAGAR 3rd CROSS STREET?

The Sub Registrar Office that covers KARUNANITHI NAGAR 3rd 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 plays a crucial role during the registration process of property transactions in Vengathur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the appropriate charges are applied based on the value of the property being transferred. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of KARUNANITHI NAGAR 3rd CROSS STREET?

The current guideline value of KARUNANITHI NAGAR 3rd CROSS STREET is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 250 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreasing to Rs 670 per sq.ft in 2017, and finally returning to Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification for KARUNANITHI NAGAR 3rd CROSS STREET?

KARUNANITHI NAGAR 3rd CROSS STREET is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000, and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I contact for transactions in KARUNANITHI NAGAR 3rd CROSS STREET?

The Manavalanagar Sub Registrar Office covers KARUNANITHI NAGAR 3rd CROSS STREET. It is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.