Guideline Value for KARUNANITHI STREET (U.R.NAGAR)

Karunanithi Street (U.R.Nagar) guideline value

The current guideline value of Karunanithi Street (U.R.Nagar) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class II Type - III.

How the guideline value of Karunanithi Street (U.R.Nagar) has changed

Over the years, the guideline value of Karunanithi Street (U.R.Nagar) has seen several revisions. The earliest recorded figure is from 2012, which was Rs 6,000 per sq.ft. This was followed by a decrease to Rs 4,020 per sq.ft in 2017. The value then increased to Rs 6,000 per sq.ft in 2023, and finally, it rose to Rs 6,600 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 3,800 per sq.ft, which means that the guideline value of Karunanithi Street (U.R.Nagar) is above the median.

• Karumariamman Koil Street (U.R.Nagar): Rs 6,600 per sq.ft (2024)
• Kavitha Street (U.R.Nagar): Rs 6,600 per sq.ft (2024)
• Kanniappan Street (U.R.Nagar): Rs 6,600 per sq.ft (2024)
• Kambar Street: Rs 3,400 per sq.ft (2024)
• Kamaraj Street (S.No.239/1): Rs 2,500 per sq.ft (2024)
• Kamaraj Nagar (Padikuppam Main Road): Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in Karunanithi Street (U.R.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Karunanithi Street (U.R.Nagar)?

The Sub Registrar Office that covers Karunanithi Street (U.R.Nagar) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Padi. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Karunanithi Street (U.R.Nagar)?

The current guideline value of Karunanithi Street (U.R.Nagar) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 6,000 per sq.ft in 2012, decreasing to Rs 4,020 per sq.ft in 2017, then increasing to Rs 6,000 per sq.ft in 2023, and finally reaching Rs 6,600 per sq.ft in 2024.

What is the land classification of Karunanithi Street (U.R.Nagar)?

Karunanithi Street (U.R.Nagar) is classified as Residential Class II Type - III, indicating its suitability for residential purposes.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Karunanithi Street (U.R.Nagar)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 4,62,000.